Canadian Heavy Oil Prices Pressured by Sarnia Incident

Reuters reported that unscheduled maintenance on a processing unit at Imperial Oil Ltd.’s (TSX:IMO) Sarnia, Ontario refinery is pressuring Canadian heavy oil prices.

As quoted in the market news:

On Tuesday, Western Canada Select heavy crude, a frequently quoted Canadian heavy oil benchmark, sold for $16.30 a barrel under West Texas Intermediate for June delivery, a $1.05 deeper discount than on Monday. Traders cited the uncertainty of the Sarnia outage for the drop.

Click here to read the full Reuters report.