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Oil Sands Crude Prices Nosedive as Russian Bans Upend Market

  • WCS discount to benchmark falls to widest in seven months
  • SPR release to flood market with sours as oil sands ramp up
A heavy hauler truck drives through the Suncor Energy Inc. Millennium mine in this aerial photograph taken above the Athabasca oil sands in 2018.

A heavy hauler truck drives through the Suncor Energy Inc. Millennium mine in this aerial photograph taken above the Athabasca oil sands in 2018.

Photographer: Ben Nelms/Bloomberg

Canadian heavy crude prices have collapsed as the European war upends global market flows and makes oil sands crude less valuable. 

Western Canadian Select’s discount to benchmark West Texas Intermediate grew $1.70 to $20.80 a barrel in Alberta on Friday, the widest in almost seven months, data compiled by Bloomberg show.