Western Canadian crudes continue to plunge

摘要

Western Canadian pipeline crudes fell sharply Monday as they continued a sell off that began last week as sweet crudes weakened amid oversupply concerns. All grades were heard to trade lower, with condensate blowing through a record-low assessment of NYMEX WTI CMA minus $8.60/b Friday to trade at WTI CMA minus $14/b Monday. Syncrude Sweet Premium, the light benchmark, traded on pace to hit a record low relative to NYMEX light sweet crude futures. October SSP at Edmonton traded at a $13/b discount to the WTI CMA, which put the grade at roughly 81% of the value of the futures contract.