Source: FinancialPost.com, January 16, 2018
If Western Canadian Select improves by $6 to $7, then these would be the highest prices in the past few years, according to GMP FirstEnergy analyst Martin King
CALGARY — Canadian heavy oil prices could be headed to their highest levels in three years, even as pipeline operators are rationing space on their networks and more product is moving to the U.S. on railway cars.
The price for Western Canadian Select, the benchmark price for domestic crude, has improved by $10 per barrel during the past two weeks, reaching $49.19 per barrel Monday, which has provided a relief for domestic producers.
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