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Why MNI
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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.
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Free AccessMNI ASIA OPEN: KC Fed Schmid Tempers Rate Cut Expectations
MNI ASIA MARKETS ANLAYSIS: Geopol Tensions Elevated
Phillips 66 Sees TMX Reaching 700k b/d Capacity by Year-End
The expanded TMX pipeline is currently transporting around 650k-670k b/d of Canadian crude oil and should reach 700k b/d by the end of the year, VP executive of marketing and commercial Brian Mandell said, cited by Bloomberg.
- Around two thirds of incremental volumes are going to Asia, with the other third headed to the US.
- This is a ‘bit of a surprise’ as Phillips 66 expected most of the volume to be heading to the US.
- P66 is taking TMC crude to the Ferndale and LA refineries on the USWC.
- The company also expects Canadian crude oil production to raise by 200k b/d by end-2024, putting pressure on prices and widening price differentials.
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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.