WCS falls to two-year low

摘要

Canadian WCS crude at Hardisty, Alberta, has fallen to its lowest value against US marker WTI in two years following a pipeline shutdown. Heavy sour WCS dropped to a $17.10/bl discount to Nymex calendar-month average (CMA) WTI after TransCanada’s 590,000 b/d Keystone pipeline was shut in on 16 November (see graph). Keystone, which carries crude from Hardisty to Cushing, Oklahoma, was taken off stream after about 5,000 bl leaked from the line in the US midcontinent. Cushing-delivered WCS frmed to a $6.35/bl discount to CMA WTI - a two-month high - as Canadian supply in the region tightened.