The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Wednesday:
* WCS for February delivery in Hardisty, Alberta, settled at $19.15 a barrel under WTI, according to brokerage CalRock, narrowing from a settlement of $19.40 a barrel under the U.S. benchmark on Tuesday.
* Despite the tightening, WCS prices remain weaker than normal as market participants await news on the timing of the Trans Mountain pipeline expansion (TMX) entering service. The Canada Energy Regulator (CER) will hold an oral hearing on a variance request from Trans Mountain on Friday, that will help determine whether the project will be further delayed.
* WCS prices are also under pressure from upcoming U.S. Gulf Coast refinery maintenance that is likely to reduce demand for heavy crude.
* Intense cold is set to blanket the oil sands region this weekend, with temperatures forecast to fall as low as -40C (-40 F).
* Global oil prices fell nearly a dollar a barrel after a surprise jump in U.S. crude stockpiles raised worries about demand in the largest oil market.
(Reporting by Nia Williams in British Columbia; Editing by Sherry Jacob-Phillips)