Hormuz Disruption Puts Spotlight on Canadian Crude
Discover how shifting trade routes and strong Gulf demand are lifting Canadian dilbit and why WCS Houston is emerging as a leading price marker
In this Crude Report episode, Argus VP of Business Development Jeff Kralowetz talks with waterborne crude reporter, John Cordner, about how demand for Canadian "dilbit" crude has soared in Asia and at the US Gulf coast in the wake of shipping disruptions at the Strait of Hormuz. They also look at the emergence of Western Canadian Select (WCS) at Houston as a strong regional reference price and benchmark.
Key Topics covered:
- How pooling of WCS and Cold Lake trades at Houston has created an exceptionally liquid and transparent price index
- How Asian demand for distillate-rich crude is likely to increase the region's buying of Canadian dilbit, both from Vancouver and Houston
- How strong crack spreads at the US Gulf coast have strengthened WCS Houston vs the light benchmark WTI Houston
- Who is continuing to buy Canadian dilbit at the US Gulf coast
They also share details on the upcoming Argus Canada Biofuels and Crude Forums on April 22 at the Calgary Petroleum Club where attendees will have a chance to meet Argus crude, freight, and consulting teams for live market discussion and networking.
