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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Tuesday:
* WCS for December delivery in Hardisty, Alberta, traded between $12.10 and $12.30 per barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.60 a barrel under the U.S. benchmark on Monday.
* The benchmark Canadian heavy oil differential has tightened around 50% year-on-year, according to ARC Energy Research Institute.
* Global oil prices edged up about 1% with a storm expected to cut U.S. output in the Gulf of Mexico and as the U.S. dollar weakened on Election Day with polls showing America’s presidential race is exceptionally close.
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