Today’s energy and equity market update:
- Oil prices move higher, as WTI adds 4% while WCS gains over 5%.
- Global bond yields move lower, and lower.
- Markets rally after President Trump makes plans to meet with President Xi.
- Canadian energy basket gains 1%, while US energy stocks rise 1.4%.
Today’s notable energy news:
- API forecasts small drawdown in crude stockpiles for last week.
- Trudeau Liberals re-approve Trans Mountain Expansion Project …
… and hope to restart construction later this year. - Anadarko Petroleum sanctions US$20B Mozambique LNG project …
… just before handing it over to Total. - ExxonMobil helps boost Iraq’s West Qurna 1 output to 465 kbbl/day …
… well on its way to 490 kbbl/day.
