Canadian oil prices rallied on signs US President-elect Donald Trump won’t immediately impose tariffs on the country’s crude.
Rory Johnston, founder of Commodity Context, talks about the perspective on oil in light of geopolitical tensions and supply-related apprehensions.
Western Canadian Select crude for delivery in the second quarter traded at $14 a barrel less than US benchmark West Texas Intermediate oil on Monday, a smaller discount than the $16-a-barrel gap on Friday, according to a person familiar with prices. The discount on WCS for March delivery narrowed to $12.90 a barrel from $14.75.
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