The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Thursday:
* WCS for May delivery in Hardisty, Alberta, traded at $11.90 a barrel below WTI, according to brokerage CalRock, after closing at $11.75 a barrel below the benchmark on Wednesday.
* Canadian heavy crude remains close to its narrowest levels this year after the Trans Mountain pipeline expansion project (TMX) began commercial operations on Wednesday.
* Many analysts expect TMX will help tighten heavy crude differentials to less than $10 a barrel below WTI by removing export pipeline bottlenecks and forcing U.S. refiners to compete with global buyers for Canadian barrels.
* Canada’s largest oil and gas producer Canadian Natural Resources said it is looking at opportunities to significantly increase bitumen output at its main oil sands mine.
* Global oil prices settled near their lowest level in seven weeks, under pressure from weaker global demand, rising inventories and fading hopes for a quick cut in U.S. interest rates.
(Reporting by Nia Williams in British Columbia; Editing by Alan Barona)