Canada’s oil price discount rises to widest gap since 2013

The price gap between the Canadian oilsands benchmark and the more widely used American one has risen to its widest level in more than five years.

The price of the heavy type of oil that comes out of Alberta’s oilsands — known as Western Canada Select — is now trading below $40 US a barrel, and was changing hands at $38.29 a barrel on Tuesday. West Texas Intermediate, which is a type of oil that’s much easier to refine and as such is the much more commonly used oil price benchmark, was trading at just under $70.