The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) narrowed on Thursday.
* WCS for April delivery in Hardisty, Alberta, settled at $10.65 a barrel under WTI, according to brokerage CalRock, after having settled at $10.90 under the U.S. benchmark on Wednesday.
* The Canadian heavy crude discount has been narrowing this week as the market reacted to the one-month tariff reprieve announced last Thursday by U.S. President Donald Trump. The White House had previously said energy products from Canada would be subject to a 10% tariff rate.
* Canada exports approximately 4 million barrels of oil per day, about 90% of its total crude exports, to the United States.
* Globally, oil prices fell over 1% on Thursday as markets weighed macroeconomic concerns, including the risk that tariff wars between the U.S. and other countries could hurt global demand as well as uncertainty stemming from a U.S. proposal for a Russia-Ukraine ceasefire.
(Reporting by Amanda Stephenson in Calgary; Editing by Alan Barona)