April 8 (Reuters) - The discount on Western Canada
Select (WCS) heavy crude versus the North American benchmark
West Texas Intermediate (WTI) widened on Monday:
* WCS for May delivery in Hardisty, Alberta, settled at
$13.75 per barrel below WTI, according to brokerage CalRock,
having settled at $13.00 a barrel below the benchmark on Friday.
* Overall Canadian heavy crude differentials have trended
tighter in recent weeks in anticipation of the long-awaited
Trans Mountain pipeline expansion project starting to ship
crude. Trans Mountain said on Wednesday it would start
operating on May 1.
* "We're holding pretty steady and when we actually get TMX
up and running, differentials in Hardisty will probably get even
tighter," said Rory Johnston, founder of the Commodity Context
newsletter.
* Analysts at brokerage Eight Capital said in a research
note they expected the WCS differential to narrow to single
digits in the second quarter of 2024.
* Global oil prices fell, ending a multi-session rally after
Israel reduced its troops in southern Gaza and began a fresh
round of ceasefire talks with Hamas.