Heavy Oil Differential Widens Slightly – Canadian Energy News, Top Headlines, Commentaries, Features & Events – EnergyNow

The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Tuesday.

* WCS for May delivery in Hardisty, Alberta, traded between $12.40 and $12.65 below WTI, according to brokerage CalRock. On Monday, May WCS traded between $12.10 and $12.40 below WTI.

* Trans Mountain will finish building the final segment of its Canadian oil pipeline expansion in April, according to a construction schedule the corporation filed on Monday with a regulator.

* Anticipation of the Trans Mountain expansion starting up in the second quarter is driving WCS differentials narrower, as it will increase egress and reduce the likelihood of price blow-outs, said analyst Rory Johnston of Commodity Context, adding that the expected startup overlaps with seasonal oil sands plant maintenance.

* Saskatchewan’s Co-op refinery will start its 47-day turnaround on Wednesday.

* Global oil futures settled higher after a session in which Ukrainian attacks on Russian energy facilities and escalating conflict in the Middle East pushed the Brent benchmark above $89 a barrel for the first time since October.

(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Alan Barona)

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