Oct 6 (Reuters) - The discount on Western Canada Select
to North American benchmark West Texas Intermediate futures
narrowed on Monday.
WCS for November delivery in Hardisty, Alberta, settled at
$10.75 a barrel under the U.S. benchmark WTI, according to
brokerage CalRock, compared to Friday's close of $11.
* Canadian pipeline operator Enbridge's ( ENB ) Mainline
system -
which transports oil from Alberta to various markets in Canada
and the U.S. - is not at apportionment in October. Apportionment
is an industry term for the rationing that occurs when demand
for pipeline space exceeds capacity.
* The increase in seasonal capacity this month on the
Mainline is
due to less planned maintenance on the system, an Enbridge ( ENB )
spokesperson said.
* Analysts say the WCS discount will likely continue to
trade
close to its current range, or even tighten this autumn. Midwest
refining runs are at record highs for this time of year, helping
to keep the WCS discount seasonally narrow.
* Oil prices gained about 1% on Monday after the OPEC+
production
increase planned for November was more modest than expected,
tempering some concerns about supply additions, though a soft
outlook for demand is likely to cap near-term gains.