Discount on Western Canada Select heavy crude widens

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

WCS for December delivery in Hardisty, Alberta, settled at $11.60 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.45 a barrel under the U.S. benchmark on Thursday.

Global oil prices settled down more than 2% as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts.

The outright price of WCS dropped below $56 a barrel.
Source: Reuters (Reporting by Nia Williams in British Columbia; Editing by Mohammed Safi Shamsi)