Today’s energy and equity market update:
- Brent moves back above US$65 a barrel.
- WTI dips 0.1%, despite expected drawdown in crude stockpiles.
- Heavy oil discount falls below US$13 a barrel.
- Cdn Light moves higher, as discount narrows by another US$1.
- AECO spot prices finally moves back above zero.
- TSX energy gives back 0.6%, while SPX energy falls 0.8%.
Today’s political and geopolitical news:
- AB, SK and ON continue crusade against federal carbon tax.
- US President Trump threatens to “obliterate” parts of Iran …
… while Iran’s President Rouhani calls White House “mentally retarded.” - IEA concerned over Mideast tensions, but say oil markets well supplied.
Today’s other notable energy news:
- Federal Liberals announce $275M in funds for LNG Canada project.
- Argentina’s Vaca Muerta finally ships first cargos of light oil and LNG.
- Magellan Midstream mulls partial sale of Longhorn crude oil pipeline.
- UK firm Linde Group boosts gasification capacity in Singapore forExxonMobil‘s planned refinery complex expansion.
