The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed by another 50 cents on Friday.
WCS for July delivery in Hardisty, Alberta, settled at $11.15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $11.65 a barrel on Thursday.
* The WCS differential has been on a narrowing trend this month, tightening by approximately $4 since mid-May.
* Wet weather and a power outage that affected oil sands producer Cenovus Energy last week have contributed to crude export supply tightness out of Western Canada.
* Global oil prices fell more than 3% on Friday to their lowest levels in nearly two months as U.S. and Iranian officials said they were close to an agreement to halt their war.
(Reporting by Amanda Stephenson in Calgary; Editing by Will Dunham)