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Heavy Oil Discount Tightens


These translations are done via Google Translate
 The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Monday:

* The discount on WCS for January delivery in Hardisty, Alberta, settled at $19.00 a barrel under WTI, according to CalRock, tightening from a close of $20 a barrel under the U.S. benchmark on Friday.

* Canadian heavy differentials have been narrowing as seasonal U.S. refinery maintenance wraps up and may also be boosted by the U.S. seeking to buy up to 3 million barrels for its Strategic Petroleum Reserve, said Eight Capital analyst Phil Skolnick in a research note.

* Global benchmark oil prices settled up slightly as OPEC+ production cuts failed to fully offset worries around crude oversupply and softer fuel demand growth next year.


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* The outright price of WCS was over $52 a barrel.

(Reporting by Nia Williams in British Columbia; Editing by Rashmi Aich)



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