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A photo of the Suncor Oil Sands operation taken Tuesday, March, 26, 2013 in Fort McMurray,Alberta.
A photo of the Suncor Oil Sands operation taken Tuesday, March, 26, 2013 in Fort McMurray,Alberta.
(Brett Gundlock/Boreal Collective For The Globe and Mail)

Extreme cold’s silver lining: Oil sands prices jump

Frigid temperatures are helping to light a fire under Canadian crude prices.

Some of the country’s largest oil sands producers have reported lower-than-expected production for December, with cold-weather-related constraints shouldering part of the blame for the shortfall.

The constraints have helped shrink the discount on Western Canada Select heavy crude against U.S. benchmark West Texas Intermediate to unseasonable levels.