April 4 (Reuters) - The differential of Western Canada
Select (WCS) heavy crude versus the North American benchmark
West Texas Intermediate (WTI) traded in the $12 range on
Thursday, little changed from the previous session.
* WCS for May delivery in Hardisty, Alberta traded between
$12.40 and $12.60 below WTI, according to brokerage CalRock. On
Wednesday, May WCS ended the day at $12.55 below WTI.
* Trans Mountain said its expanded oil pipeline
would start operating on May 1.
* The project's progress has been the dominant factor in WCS
trading this month with the differential narrowing as the
pipeline moves closer to opening.
* Trans Mountain's startup date surprised analysts who were
expecting a later start during the second quarter.
* An industry source said there is skepticism about Trans
Mountain meeting its schedule.
* Global oil futures extended gains, settling up more than
$1 on Thursday, as geopolitical tensions and output cuts
outweighed caution about U.S. Federal Reserve rate cuts.