The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Monday.
WCS for April delivery in Hardisty, Alberta, traded between $15.15 and $15.30 per barrel under WTI, according to brokerage CalRock. On Friday, WCS had begun trading at $15.75 and ended the day at $15.65 below the U.S. benchmark.
WCS prices strengthened on tight crude supplies, a Calgary industry source said.
Optimism about the Trans Mountain pipeline expansion, beginning line fill in April, has also supported prices.
Global oil futures were little changed as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling.
(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Shweta Agarwal)
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