Heavy crude discount narrows marginally

July 14, 2022 Stu Turley Crude Oil News, Top News
BLM
Oil and gas lease sale results have been announced for Wyoming, Colorado, Montana/Dakotas, New Mexico, and Nevada.

The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark edged tighter on Thursday:

* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $21.60 a barrel below WTI, according to NE2 Group, narrowing 5 cents from the previous day.

* Light synthetic crude from the oil sands for August delivery settled at $14.50 a barrel over WTI, unchanged from Wednesday.

* One industry source said trading volumes were thin as a result of the Calgary Stampede, a 10-day celebration of rodeo and corporate parties in Canada’s oil capital, and as the Canadian crude market neared the end of its monthly trading window.

About Stu Turley 3332 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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