The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Wednesday:
* WCS for November delivery in Hardisty, Alberta, settled at a discount of $11.35 per barrel under the WTI benchmark, according to brokerage CalRock. It settled at $11.80 a barrel under the benchmark on Tuesday.
* The narrowing in WCS reflected the value in physical crude grades even as volatile WTI futures have been whipped around by speculative pressure in recent sessions, said Rory Johnston, founder of the Commodity Context newsletter.
* Global oil prices fell after U.S. data showed rising crude inventories, but losses were limited by the risk of Iranian supply disruptions caused by the Middle East conflict and Hurricane Milton in the United States.
(Reporting by NIa Williams in British Columbia; Editing by Shreya Biswas)