this post was submitted on 27 Mar 2025
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Commentary: Canadian crude exporters are unintended recipients of Trump bump (www.reuters.com)
submitted 6 days ago by HellsBelle@sh.itjust.works to c/canada@lemmy.ca
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Canadian oil producers selling crude to U.S. refiners are enjoying a significant windfall, and they have one man to thank: President Donald Trump.

The main Canadian crude grades typically trade at a discount to benchmark U.S. crude due to transportation costs and its grade, and the tariff threat initially caused that gap to widen.

But in recent weeks, the discount for Western Canada Select (WCS) delivered in Hardisty, Alberta has steadily shrunk, hitting $9.75 a barrel this week, the smallest since late November 2020, according to LSEG data.

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[–] HonoredMule@lemmy.ca 5 points 6 days ago* (last edited 6 days ago)

This tells me we're leaving money on the table. I get that even without the Smith disaster in play, taking an action that would disproportionately depress one province's economy is a tall order.

But it still seriously sucks that it's Oil & Gas companies reaping the windfall from this fiasco.