The discount on Western Canadian crude to Alberta's WTI benchmark widened to $31 a barrel, the highest since October 2022, according to Bloomberg. In the US Gulf Coast, the price gap widened to a record high of $23.50 per barrel since 2018. The widening price gap is due to an increase in the import of oil of a similar quality from Venezuela to the American market, as well as a sharp jump in tanker rates, which makes the export of raw materials more expensive.

The discount on Western Canadian crude to Alberta's WTI benchmark widened to $31 a barrel, the highest since October 2022, according to Bloomberg. In the US Gulf Coast, the price gap widened to a record high of $23.50 per barrel since 2018. The widening price gap is due to an increase in the import of oil of a similar quality from Venezuela to the American market, as well as a sharp jump in tanker rates, which makes the export of raw materials more expensive.