Heavy crude discount tightens

Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) narrowed on Friday:

* WCS for March delivery in Hardisty, Alberta, strengthened to $22.50 a barrel below WTI, according to brokerage CalRock, having settled at $22.90 a barrel on Thursday.

* Canadian heavy crude continues to follow U.S. Gulf Coast prices higher, said one Calgary-based crude trader, and could tighten further as maintenance season gets underway in the oil sands and reduces supply.

* A Canadian offshore oil regulator said on Friday it has licensed a significant discovery by Equinor ASA 002NG off the country's Atlantic coast, the first such license it has issued in two years.

* Global oil prices fell to over three-week lows in a volatile session, after strong U.S. jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products.

* The outright price of WCS was just under $51 a barrel.