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US NEWS 
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Monday.
WCS for January delivery in Hardisty, Alberta, settled at $12.75 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $12.40 on Friday.
* The WCS discount began the month at its widest point since March. Analysts have projected the discount will widen slightly through the winter months as strong seasonal supply drives high utilization along Canada’s export pipelines, while incremental OPEC+ barrels in global markets weigh on heavy oil prices.
* Monday was the start of the Canadian crude market’s trade cycle, which runs from the first of each month until the day before pipeline nominations are due, and in which the bulk of the trading activity takes place.
* Oil prices rose more than 1% on Monday following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC’s decision to leave output levels unchanged in the first quarter of 2026.
(Reporting by Amanda Stephenson in Calgary; Editing by Maju Samuel)
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