Post by
Obscure1 on Oct 25, 2021 11:59am
WTI vs WCS spread
When ENB announced that Line 3 would be increasing the daily flow from 360,000 barrels to 620,000 barrels per day beginning Oct 1, the spread narrowed down under $12
ENB has said that Line 3 is going to start moving to its full capacity of 760,000 barrels next week but now the spread is over $16.
I thought that the increased egress was supposed to reduce the discount that Americans force on Alberta simply because they can.
I'm hoping that the oil guys that read this thread will shed some light on this.
TIA
Comment by
Skysohigh on Oct 25, 2021 12:52pm
WCS hasn't fallen recently. I'd say the rising spread has more to with WTI rising faster with Cushings inventories getting very low. Line 3 doesn't do much to directly replenish Cushings. Anyway, I wouldn't sweat the minutiae, what we really need is for Suncor to report good earnings this week with no surprise operational issues. That's most important for the sp.
Comment by
Oldnagger on Oct 25, 2021 4:29pm
The end of asphalt season is a factor. Probably a bigger factor though is the over-sized egos of Oil traders !! Canadian producers need to take a page out of the book from MEG. I.e.arrange their own transportation to the USGC and then market the barrels directly there !!
Comment by
Eigen337 on Oct 25, 2021 7:45pm
This post has been removed in accordance with Community Policy
Comment by
Chad123 on Oct 26, 2021 10:37am
Probably going to get worse if this happens: Environment Minister Jonathan Wilkinson is expected to be moved to natural resources, with a new focus on clean tech. Heritage Minister Steven Guilbeault, a prominent environmentalist in Quebec before jumping into politics in 2019, is expected to take over at Environment