Surge in Canadian Crude Signals Tariff Concern Is Waning

Bloomberg · last updated March 10, 2025 – 6:21 PM

Concern about President Donald Trump’s threats to impose tariffs on US imports of Canadian oil is waning as the duties’ start date keeps getting pushed back, strengthening local crude prices.

Heavy Western Canadian Select for delivery in April traded at $11.50 less per barrel than US benchmark West Texas Intermediate on Monday, according General Index prices compiled by Bloomberg. That’s the narrowest discount since Nov. 15, before Trump — then president-elect — first threatened tariffs on Canadian imports.

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