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US NEWS 
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Tuesday:
* WCS for February delivery in Hardisty, Alberta, settled at $12 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $11.85 a barrel under the U.S. benchmark on Monday.
* Global oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand.
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