Refinery disruptions and rising production push WCS discount to multi-year high
Published . Updated .
While WTI prices remained elevated in October, refinery outages and ongoing labour disputes are denting demand for Canadian heavy crude in the US Midwest. Here's a look at production trends, October oil prices and what to expect during the upcoming Q3 earnings season.
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund+7.3% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+6.2% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- CRAK VanEck Oil Refiners ETF
VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story.
- BWET Breakwave Tanker Shipping ETF+25.1% 18d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- EWC iShares MSCI Canada ETF+1.8% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canadian”).
- XOM ExxonMobil Holdings+10.3% 14d
ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- CVX Chevron+8.4% 30d
Chevron (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story.
- VLO Valero Energy+1.5% 30d
Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | +0.80% | -2.73% | base | after close | after close | after close | after close |
| XLE | +0.88% | -0.71% | base | after close | after close | after close | after close |
| CRAKNo price data for this ticker | — | — | — | — | — | — | — |
| BWETNo price data for this ticker | — | — | — | — | — | — | — |
| EWCNo price data for this ticker | — | — | — | — | — | — | — |
| XOM | +0.03% | -1.79% | base | after close | after close | after close | after close |
| CVX | +0.78% | -1.37% | base | after close | after close | after close | after close |
| VLO | +8.98% | +0.67% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Refinery disruptions and rising production push WCS discount to multi-year high Oil Sands Magazine
Source: Oil Sands Magazine
Vaneck Etf Trust (CRAK) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| Chevron (CVX) | three days earlier | -1.37% | final price |
| Chevron (CVX) | five days earlier | +0.78% | final price |
| USO | three days earlier | -2.73% | final price |
| USO | five days earlier | +0.80% | final price |
| Valero Energy (VLO) | three days earlier | +0.67% | final price |
| Valero Energy (VLO) | five days earlier | +8.98% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -0.71% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | +0.88% | final price |
| ExxonMobil Holdings (XOM) | three days earlier | -1.79% | final price |
| ExxonMobil Holdings (XOM) | five days earlier | +0.03% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 59 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 90 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 36 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 57 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Chevron (CVX), worth $15,001 - $50,000 on 26 Aug 2026. That is 64 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. David J. Taylor sold Marathon Petroleum (MPC), worth $1,001 - $15,000 on 22 Sep 2026. That is 37 days before publication. Filed 1 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Vaneck Etf Trust (CRAK)
The side that tends to collect
- XOM ExxonMobil Holdings
ExxonMobil Holdings (XOM) tends to benefit, medium confidence in the 29 Oct 2026 story “Refinery disruptions and rising production push WCS discount to multi-year high.” Reason on file: ExxonMobil Holdings (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story
- CVX Chevron
For “Refinery disruptions and rising production push WCS discount to multi-year high,” Chevron (CVX) tends to benefit, medium confidence. Reason on file: Chevron (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story
No up or down call on file
- CRAK Vaneck Etf Trust
For “Refinery disruptions and rising production push WCS discount to multi-year high,” Vaneck Etf Trust (CRAK) is linked, with no stored direction, medium confidence. Reason on file: VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story
- XLE Select Sector Spdr Tr
Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 29 Oct 2026 story “Refinery disruptions and rising production push WCS discount to multi-year high.” Reason on file: Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story
- VLO Valero Energy
For “Refinery disruptions and rising production push WCS discount to multi-year high,” Valero Energy (VLO) is linked, with no stored direction, medium confidence. Reason on file: Valero Energy (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story
- MPC Marathon Petroleum
For “Refinery disruptions and rising production push WCS discount to multi-year high,” Marathon Petroleum (MPC) is linked, with no stored direction, medium confidence. Reason on file: Marathon Petroleum (petroleum refining): refiners' margins move with crude and fuel prices. Linked by “refinery” (refining) in this story
Vaneck Etf Trust (CRAK) and the energy link
“Refinery disruptions and rising production push WCS discount to multi-year high” (29 Oct 2026) reaches Vaneck Etf Trust (CRAK) through Energy.
The link for Vaneck Etf Trust (CRAK) is this: VanEck Oil Refiners ETF: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it holds refiners, whose margins move with fuel prices. Linked by “refinery” (refining) in this story
The price range for Vaneck Etf Trust (CRAK), and the dates in the story
XLE traded between 61.05 and 69.86 across 20 sessions. The latest close on file is 68.46. XOM traded between 165.22 and 184.89 across 13 sessions. The latest close on file is 182.08.
How strong the case is around Vaneck Etf Trust (CRAK)
46 out of 100
“Refinery disruptions and rising production push WCS discount to multi-year high” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.