MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

MNI BRIEF: Fed's Bowman Wants Inflation Progress Before Cuts

CANADA Q4 FLASH GDP BY INDUSTRY +1.8% ANNUALIZED, +0.4% QOQ

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100 BPS TO 13.25%

MNI: Fed Statement Comparison - January vs. December

MNI INTERVIEW2: New NBH Chief Must Clarify Reaction Function

MNI: US DEC PERSONAL INCOME +0.4%; NOM PCE +0.7%

MNI:US Q4 EMPL COST INDEX 0.9% V Q3 0.8%

MNI: CANADA NOV GROSS DOMESTIC PRODUCT -0.2% MOM

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PADD I OIL: Trump Tariffs Could Bite US East Coast Product Market: Argus

PADD I OIL
USEnergy BulletsNorth AmericaCanadaBulletCommodities

The US imposing 25% tariffs on imports from Canada and Mexico would significantly impact the US Atlantic coast motor fuel markets, Argus said.

  • President Trump reiterated plans for these tariffs, though crude may be exempt. However, this exemption wouldn't affect Irving Oil's Saint John refinery, a key gasoline and diesel supplier to the US Atlantic coast.
  • The US imported about 595k b/d of oil products from Canada in October, mostly for the Atlantic coast.
  • A 25% tariff could increase New York Harbor gasoline prices by up to 50 cents/gal, prompting buyers to seek alternative supplies.
  • Canadian refiners might redirect products to WAF or Latin America. US midcontinent refiners, heavily reliant on Canadian crude, could face challenges due to limited pipeline capacity for lighter US grades.
  • Mexican refined product imports are less concerning, with only 180k b/d sent to the US in October.
  • However, counter tariffs by Mexico or Canada could further impact US refiners, potentially reducing refinery runs by 10%, according to Valero.
160 words

To read the full story

Close

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.

The US imposing 25% tariffs on imports from Canada and Mexico would significantly impact the US Atlantic coast motor fuel markets, Argus said.

  • President Trump reiterated plans for these tariffs, though crude may be exempt. However, this exemption wouldn't affect Irving Oil's Saint John refinery, a key gasoline and diesel supplier to the US Atlantic coast.
  • The US imported about 595k b/d of oil products from Canada in October, mostly for the Atlantic coast.
  • A 25% tariff could increase New York Harbor gasoline prices by up to 50 cents/gal, prompting buyers to seek alternative supplies.
  • Canadian refiners might redirect products to WAF or Latin America. US midcontinent refiners, heavily reliant on Canadian crude, could face challenges due to limited pipeline capacity for lighter US grades.
  • Mexican refined product imports are less concerning, with only 180k b/d sent to the US in October.
  • However, counter tariffs by Mexico or Canada could further impact US refiners, potentially reducing refinery runs by 10%, according to Valero.