This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost $11.32 to $83.45 on the New York Merc, while Brent for May lost $11.16 to $87.80, both benchmarks taking a cooling-off period on hopes for an early end to the U.S.-Israel-Iran war (all figures in this para U.S.). Western Canadian Select traded at a discount of $6.30 to WTI, up from a discount of $20.30. Natural gas for April lost 10 cents to $3.02. The TSX energy index lost 1.69 points to close at 376.96.

Less than two years after the start-up of Canada's last major oil pipeline expansion, Trans Mountain, calls for more export capacity are echoing again. "Canadian crude oil pipeline egress is expected to be effectively fully used up by the end of 2026," warned DBRS in a new market commentary. Thereafter, the industry's ability to increase production without risking wider differentials (the discount that Canadian crude receives to the U.S. benchmark) will hinge on "just-in-time brownfield expansions" that are scheduled to add 790,000 barrels a day by 2030. Yet even if all those expansions are completed on time, the capacity would be "fully absorbed within two to three years under modest production growth assumptions."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS