Discount on Western Canada Select Heavy Crude Narrows

(Reuters) – The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Friday:

• WCS for February delivery in Hardisty, Alberta, settled at $12.00 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.25 a barrel under the U.S. benchmark on Thursday.
• Global oil prices rose on Friday, closing the week higher on the back of cold weather in Europe and the U.S. as well as additional economic stimulus flagged by China.

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

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