* WCS for March delivery in Hardisty, Alberta, settled at $19.40 a barrel under WTI, according to brokerage CalRock, having closed at $19.25 per barrel below the U.S. benchmark on Friday.
* Canadian heavy crude differentials have been under pressure all month, following the shutdown of BP’s 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery and fresh delays to the Trans Mountain pipeline expansion (TMX) project.
* WCS differentials should tighten significantly to around $10-$12 a barrel under WTI once the 590,000 bpd TMX project starts operating, BMO analyst Ben Pham said in a note to clients.
* Global oil futures were little changed as concerns about interest rates and global demand caused the market to take a break after prices jumped about 6% last week on worries Middle East tensions could cause supply problems.
(Reporting by Nia Williams in British Columbia; Editing by Chris Reese)
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