The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Tuesday, the first day of the new monthly trade cycle:
* WCS for November delivery in Hardisty, Alberta, settled at $12.70 a barrel below WTI, according to brokerage CalRock, having settled at $13.05 a barrel under the benchmark in the previous trading session.
* Canadian heavy crude prices have held broadly steady in recent weeks, in contrast with volatile benchmark global oil prices.
* Global oil prices climbed about 3% after Iran fired a salvo of ballistic missiles at Israel in retaliation for Israel’s campaign against Tehran’s Hezbollah allies in Lebanon.
(Reporting by Nia Williams in British Columbia; Editing by Subhranshu Sahu)