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

* WCS for February delivery in Hardisty, Alberta, settled at $12.15 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.20 a barrel under the U.S. benchmark on Thursday.

* Global oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue.
Source: Reuters