The flow of Canadian oil to the United States slowed on three major pipelines Tuesday morning, hours after the start of U.S. tariffs on crude imports from Canada, according to Wood Mackenzie.
The U.K.-based data provider cites real-time monitoring of 90 per cent of the oil capacity crossing the Canada-U.S. border. Wood Mackenzie says it detected reductions on three major crude systems delivering Canadian crude to U.S. markets.
“The timing could indicate that the recently implemented policy may have at least some impact on Canada-to-U.S. deliveries, at least temporarily,” Wood Mackenzie North American crude market analyst Dylan White wrote in a report.
“It is unclear if the reductions were directly related to the new tariffs.”
“System utilization was at approximately 77 per cent as of 2:00 pm ET, down from 91 per cent earlier in the day.”
Wood Mackenzie says Keystone's pipeline utilization fell over 30 per cent at 2 p.m. ET on Tuesday, versus earlier in the day. At the same time, it says Enbridge's Express utilization was at approximately 19 per cent, down from 67 per cent hours earlier.
Posted by John3262005
5 Comments
“It is unclear if the reductions were directly related to the new tariffs.”
Who cares, post truth era baby. I want “Trump halts the flow of our country’s oil” plastered everywhere asap
i was told trump would “drill baby drill” 😨
Does the tariff get applied to the WTI-Cushing benchmark or the Canadian benchmark ( which I forget the name)?
Gas prices go up let’s go
I want $10 a gallon MINIMUM
The tarrif is like $5.50 on a $55 barrel of crude. Not sure it that’s really enough to swing anything when pipelines and flows and refinery needs are pretty fixed in the short term. I guess I can see a lot of it being diverted into storage in Alberta to see if Trump changes his mind rather than sell it and ship it now.