Canadian Oil Rises as California Ships in Record Amount by Rail

Spot crude from Alberta strengthened against the U.S. benchmark West Texas Intermediate oil as California, the third-largest oil-refining state in the U.S., takes a record volume of oil from Canada by rail.

The discount for Western Canadian Select narrowed as a report showed California, the most populous U.S. state, received 709,014 barrels of crude from Canada by rail in December, a 4.9 percent increase from November and up from zero a year ago, data posted on the state Energy Commission’s website show. Canada made up 67 percent of the state’s total oil-by-rail receipts that month.