Heavy oil discount tightens within narrow range

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

WCS for October delivery in Hardisty, Alberta, settled at $13.75 a barrel below WTI, according to brokerage CalRock, having settled at $13.85 a barrel under the benchmark on Thursday.

Canadian heavy crude prices continue to trade in the narrow range between $13.50 and $14.00 a barrel below benchmark U.S. crude that they have been in all month.

Global oil prices fell as U.S. Gulf of Mexico crude production resumed following Hurricane Francine and rising data showed a weekly rise in U.S. rig count.O/R

The outright price of Canadian heavy crude was just under $55 a barrel.
Source: Reuters (Reporting by Nia Williams in British Columbia; Editing by Krishna Chandra Eluri)