Canadian Crude Strengthens as Enbridge Fills Pipeline
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Heavy Western Canadian Select crude’s discount to West Texas Intermediate shrank to the least since 2012 as a new pipeline started and production sites were shut for maintenance.
The discount to the U.S. benchmark narrowed 25 cents to $8.50 a barrel Monday, the smallest margin since September 2012, according to data compiled by Bloomberg. The grade’s absolute price rose 3 cents to $50.43, the highest since Dec. 4. WTI futures fell 22 cents to $58.93 in New York.