The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Monday:
* WCS for October delivery in Hardisty, Alberta, settled at $13.50 a barrel below WTI, according to brokerage CalRock, having settled at $13.75 a barrel under the benchmark on Friday.
* 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 rose as the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico offset persistent Chinese demand concerns ahead of this week’s U.S. Federal Reserve interest rate cut decision.
(Reporting by Nia Williams in British Columbia; Editing by Sonali Paul)