The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures was unchanged on Friday.
WCS for June delivery in Hardisty, Alberta, settled at $15.80 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, flat on Thursday’s close.
* While the discount has narrowed since the start of the month, the differential for heavy Canadian crude remains wider than it was at the beginning of the U.S. war on Iran.
* The WCS differential has been volatile since the start of conflict and the effective closure of the Strait of Hormuz, which has sharply reduced crude exports from the region and left energy importers scrambling for alternative supplies.
* Brent crude futures jumped as much as 3% on Friday, a day after the U.S. and Iran traded air strikes, but pared gains as traders hoped for a longer pause in the fighting that has shut shipping in the strait.
(Reporting by Amanda Stephenson in Calgary; Editing by)