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Heavy oil discount tightens within narrow range

September 13, 20244:22 PM Reuters0 Comments

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.

* The outright price of Canadian heavy crude was just under $55 a barrel.

(Reporting by Nia Williams in British Columbia; Editing by Krishna Chandra Eluri)

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