Canadian crude’s discount to West Texas Intermediate futures has widened more than US$10 since August as pipeline companies including Enbridge Inc. rationed space amid high Western Canadian inventories. Rail cars struggled to catch up on deliveries after line disruptions over the past two months.
Wednesday, December 13, 2017
TOO MUCH OIL, NOT ENOUGH CAPACITY
Heavy Canadian crude fell to a three-year low against benchmark prices Tuesday as bottlenecks on pipelines and rail networks crimped exports.
Canadian crude’s discount to West Texas Intermediate futures has widened more than US$10 since August as pipeline companies including Enbridge Inc. rationed space amid high Western Canadian inventories. Rail cars struggled to catch up on deliveries after line disruptions over the past two months.
Canadian crude’s discount to West Texas Intermediate futures has widened more than US$10 since August as pipeline companies including Enbridge Inc. rationed space amid high Western Canadian inventories. Rail cars struggled to catch up on deliveries after line disruptions over the past two months.
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