No pipeline, no problem as Canadian oil hits the railroads

(Source: Bloomberg, January 24, 2019) 

NEW YORK — Heavy Canadian crude isn’t getting any cheaper — but that hasn’t stopped companies from splurging on costly rail shipments. Rail-car loadings hit a record 356,000 barrels a day in the week ended Jan. 11, up from a daily average of 296,000 barrels in December, according to Genscape Inc., which monitors some of the larger crude-by-rail terminals in Western Canada. The surge comes even heavy Western Canadian Select’s discount to the U.S. benchmark reaches a level that makes rail transport inefficient.

Full story: Yahoo Finance

Tuesday, January 29, 2019