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The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Thursday to the smallest discount in nearly one month, since before the Keystone pipeline shut down last month. * Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $16.50 per barrel below WTI, according to Net Energy Exchange, compared with Wednesday’s settle of $17.85 below. * The differential was as narrow as $15.25, the smallest in nearly one month, before the Oct. 29 Keystone pipeline shutdown. * Buying was related to filling nominations for movement on the Enbridge Inc Mainline, and that buying was delayed amid earlier uncertainty about how long the Keystone outage might last, a trader said. * A second industry source said that the narrower differential makes sense factoring in current prices at Houston for heavy oil, and rail costs. * Thursday was the last day of the monthly trading cycle for December deliveries. * TC Energy Corp told a majority of Keystone oil pipeline shippers that November volumes would be cut by nearly 39% after a leak in North Dakota spilled more than 9,000 barrels about two weeks ago, sources familiar with […]
