The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Friday:

WCS for January delivery in Hardisty, Alberta, settled at $12.20 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.55 a barrel under the U.S. benchmark on Thursday.

Global oil prices climbed to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower interest rates in Europe and the U.S. could boost fuel demand.
Source: Reuters (Reporting by Nia Williams in British Columbia)