Uh-Oh Canada!
Authored by Nick Cunningham via OilPrice.com,
Oil from Canada’s oil sands is now selling at a $27-per-barrel discount relative to WTI, the sharpest difference in more than four years.
Western Canada Select (WCS), a benchmark for oil from Alberta’s oil sands, has plunged in December, falling to just $30 per barrel at the end of this past week. WCS typically trades at a discount to WTI, reflecting the differences in quality from lighter forms of oil, as well as the extra transportation costs to move oil hundreds of miles out of Alberta.