June 10 (Reuters) - The discount on Western Canada
Select (WCS) heavy crude versus the North American benchmark
West Texas Intermediate (WTI) narrowed on Monday:
* WCS for July delivery in Hardisty, Alberta, traded at
$12.85 a barrel below WTI, according to brokerage CalRock,
having settled at $12.95 a barrel under the benchmark on Friday.
* Canadian heavy barrels have traded in a fairly tight range
so far this month, supported by the start-up of the 590,000
barrel-per-day (bpd) Trans Mountain pipeline expansion last
month.
* The forward curve indicates the discount on WCS should
remain tighter than its historical average, with the 2025
forward strip at $14.44 a barrel under WTI, National Bank
analysts said in a note to clients.
* Global oil prices climbed about 3% to a one-week high,
buoyed by hopes of rising fuel demand this summer despite a
stronger U.S. dollar and expectations the U.S. Federal Reserve
will leave interest rates higher for longer.