What is the spread between Brent and WTI?
Although considered both light and sweet, Brent is slightly heavier than WTI, with an API gravity of 38.06 and a sulfur content of 0.37%. During the latter half of 2017, the price spread between Brent and WTI reached as high as $8 per barrel.
Why is WCS oil so cheap?
Since the oil in WCS is much heavier than WTI (which is a light oil), and further away from main markets, WCS is priced at a further discount to WTI. Other oil streams produced from the oil sands are also priced at a discount to WTI or WCS.
What is WCS oil price today?
Oil Price Charts
| Futures & Indexes | Last | Last Updated |
|---|---|---|
| Western Canadian Select | 55.50 | (-25196 seconds delay) |
| Dubai | 80.55 | (1 Day Delay) |
| Brent Weighted Average | 79.14 | (1 Day Delay) |
| Louisiana Light | 77.14 | (1 Day Delay) |
What is the WCS differential?
WCS is a blend of diluted bitumen and conventional heavy oil priced out of Hardisty, Alberta. WCS represents the benchmark for diluted bitumen produced out of the oil sands while CLS more closely resembles WTI specifications. Each trades in reference to the WTI benchmark price.
Who buys Canadian crude oil?
Canada’s Oil Imports Currently, more than half the oil used in Quebec and Atlantic Canada is imported from foreign sources including the U.S., Saudi Arabia, Russian Federation, United Kingdom, Azerbaijan, Nigeria and Ivory Coast. In 2019, Canada spent $18.9 billion to import foreign oil.
How can I invest in oil?
If you choose to buy futures or options directly in oil, you will need to trade them on a commodities exchange. The more common way to invest in oil for the average investor is to buy shares of an oil ETF. Finally, you can also invest in oil through indirect exposure by owning various oil companies.
What is WCS trading at?
Western Canada Select (WCS) is the “price obtained for many Alberta producers of oil” according to the Government of Alberta’s “Economic Dashboard”. The Dashboard reported that the WCS price was $US45. 13 a barrel in February 2021, which represents an increase of 65.4% compared to February 2020.
What is the API gravity of WCS?
roughly 20°
WCS is the largest commercial stream of heavy oil in Canada and one of North America’s largest heavy oil blends. It has an API Gravity of roughly 20°, a sulphur content around 3.5% and is comprised of: Non-upgraded bitumen produced from the oil sands in Alberta.