Canada oil price differential
Yet despite the global recovery in energy prices, Canadian oil prices (WCS) went in the opposite direction, dropping to US$27. In other words, the average price difference between Canadian oil (WCS) and U.S. oil (WTI) in October was about US$43 per barrel, which represents a staggering discount of 61 per cent (of the U.S. crude price). Gluts, price differential: Six things to know about Canada's oil-price gap Suncor's base plant with upgraders in the oil sands in Fort McMurray Alta, on Monday June 13, 2017. In Q3/2018, the discount between light oil in Houston (WTI) and light oil in the UK North Sea (Brent) was US$2.50/bbl, representing the shipping differential between the Gulf Coast and the UK. Although the USGC has better access to South America, the North Sea is closer to Europe and Asia, two very large importers of crude.