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Alberta braces for wider oil price spread

from The Globe and Mail

Alberta Finance Minister Doug Horner said in his recent fiscal update that the spread between Canadian and global prices for oil has taken a holiday. But he warned that, "like a bad penny," he expects it will return. Analysts say the spread — usually expressed as the difference between lower-valued Canadian heavy oil and the North American benchmark West Texas intermediate — will remain volatile into the near future. But it should soothe the nerves of Alberta officials that analysts don't expect the differential to be as wide in the months ahead as it was last winter. more

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