Canadian crude discounts widen as Brent tops $109 after Hormuz tanker sinking

Brent and WTI surged after CENTCOM confirmed an IRGC strike sank a Singapore-flagged container ship in the Strait of Hormuz, with WTI crossing $100/bbl for the first time in a month. Canadian crude prices lag the global rally, likely due to persistent pipeline constraints and heavier grade differentials, though the article does not specify the exact discount. The escalation in the Strait raises supply risk premiums, but Canadian producers remain insulated from the immediate disruption.