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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.
OIL
Canadian oil discounts versus US WTI is expected to shrink when the new Trans Mountain Pipeline comes along according to Energy Aspects.
- It forecasts Western Canadian Select’s discount to US benchmark West Texas Intermediate may shrink from its current level of about $17.10/bbl to less than $10/bbl between May and July.
- US Midwest refiners that rely on the discounted Canadian barrels could face the biggest impact of higher competition for the barrels.
- The Trans Mountain Pipeline has faced numerous delays but is forecast to come online in Q2, boosting capacity to ship 590,000 bpd of extra oil from Alberta to the Pacific Coast and opening up[ wider markets for the oil.
- Energy Aspects has warned that the pipeline startup overlaps with Canadian Q2 oilfield maintenance work, potentially reducing availability further.
Source: Energy Aspects/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.
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