U.S. oil prices weaken as Asia buys Canadian oil at high prices
2026-10-26 18:55:24
According to CoinMeta, as oil prices in the United States weaken, Asian markets are purchasing Canadian oil at higher prices. Data from Platts, part of S&P Global Energy, shows that in September, the price of Canadian "Cold Lake" crude oil delivered to South Korea was $9.50 per barrel higher than the Dubai crude oil benchmark price, setting a historical record. Since this month, the premium has averaged $4.33 per barrel, whereas before the outbreak of the Iran war, the price of this crude oil was actually on discount. In contrast, in the United States, which is Canada's largest market, the selling price of Canadian crude oil is continuously weakening. According to General Index data, last week in Alberta, the discount for the Canadian oil sands benchmark variety "Western Canadian Select" ($BJWKEEP_00002__) relative to the monthly average futures price of WTI crude oil expanded to $28.25 per barrel, marking the largest decline in nearly four years.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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