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Heavy Oil Discount Narrows for Third Straight Session


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) tightened slightly, for the third consecutive session on Monday:

* WCS for August delivery in Hardisty, Alberta, settled at $13.60 a barrel below WTI, according to brokerage CalRock, having closed at $13.75 a barrel below WTI on Friday.

* Hurricane Beryl seemingly had minimal impact on major refineries along the Gulf Coast, some of which consume WCS.

* Suncor Energy temporarily curtailed some production at its 215,000 barrel-per-day (bpd) Firebag oil sands site in northern Alberta on Friday as a precaution due to a nearby wildfire.

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* Global oil prices settled down about 1% to a one-week low on Monday as Hurricane Beryl shut U.S. refineries and ports along the Gulf of Mexico, and on hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruptions.

(Reporting by Georgina McCartney in Houston; Editing by Mohammed Safi Shamsi)



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