15:43:31 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 855,034,826
Close 2015-05-11 C$ 62.28
Market Cap C$ 53,251,568,963
Recent Sedar Documents

FP/wire say Enbridge, others boost shipments south

2015-05-12 08:02 ET - In the News

The Financial Post reports in its Tuesday, May 12, edition that with United States oil inventories near a record, refiners have started paying more for quick delivery of Canadian heavy crude, tightening the grade's discount to benchmark West Texas Intermediate. A Bloomberg dispatch to the Post reports that heavy Western Canadian Select's discount to WTI shrank 40 cents to $8 a barrel on Monday morning, the narrowest since September, 2012. Buyers are paying $50.47 a barrel for immediate delivery of the grade, $3.21 more than for delivery in September. WTI crude, a lighter grade, is cheaper the sooner it is delivered amid near record stockpiles at the storage hub of Cushing, Okla. New pipelines including Enbridge's Edmonton-to-Hardisty line, which started last month, as well as Flanagan South and Seaway Twin are boosting shipments south. U.S. Midwest refiners, the biggest users of Canadian crude, were running at their highest seasonal rates since at least 2010 earlier this month. ARC Financial's Jackie Forrest says, "The amount of heavy crude available out of Western Canada hasn't changed that much, but we do have more flows going down south." She says the current discount to WTI is "not sustainable."

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