Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Canadian oil prices are weakening relative to US grades due to pipeline bottlenecks that are restricting flows to US refiners being pushed by higher Canadian oil production.
- Heavy Western Canadian Select crude in Alberta traded at a $25-a-barrel discount to US benchmark West Texas Intermediate on Tuesday according to Bloomberg analysis – the widest since January.
- Canadian pipeline flows are being forced to ration space ahead of production gains in the country prior to the Trans Mountain pipeline coming online in the next few months.
- Alberta’s total crude output rose to 3.01 million barrels a day in August, the highest since May.
- Increased Canadian oil volumes and strong refinery maintenance in the US Gulf are pushing higher Canadian oil exports out of the region by vessel, likely under more pressure as Venezuelan heavy barrels begin diverting away from China towards the US gulf now that sanctions have eased.
source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok