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Canadian oil prices fall to lowest level on record

Source: Pete Evans, cbc.ca, March 19, 2020

The price of crude is at it’s lowest level in years, thanks to the price war between  Russia and Saudia Arabia.

The price of a barrel of Canadian oilsands crude oil fell to its lowest level ever on Wednesday, and the Toronto Stock Exchange sold off heavily as a result.

Western Canadian Select (WCS) was changing hands at one point as low as $7.63 US per barrel, down $4.60 from Tuesday’s level. The U.S. benchmark known as West Texas Intermediate (WTI) also fell to below $22 a barrel, a level it has not hit since 2003.

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