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Affected by better-than-expected US PPI data and rising oil prices, the yield on German two-year government bonds jumped nearly 6 basis points to 2.435%, while the yield on Italian two-year government bonds rose 7.2 basis points to 2.671%.March 18th - The US February PPI rose more than expected, and may accelerate further as the Middle East war pushes up oil prices and import transmission continues. The US Bureau of Labor Statistics said Wednesday that the February PPI surged 0.7% month-over-month, driven by the service sector, while the January increase was revised to 0.5%. The war between the US and Israel and Iran, which began at the end of February, has already driven oil prices up by more than 40%. Economists expect the inflationary impact of the war to be reflected in the March Consumer and Producer Price Report, to be released next month. The Federal Reserve is expected to keep interest rates unchanged later today. Fed officials will submit new economic projections, and economists expect inflation forecasts to be revised upwards; financial markets expect only one rate cut by the Fed this year.Traders further reduced their bets on a Federal Reserve rate cut in 2026.U.S. Democratic Senator Warren claims that Trump is limiting the Federal Reserves room to cut interest rates.March 18th - InvestingLive analyst Adam Button stated that this is the last undisturbed PPI data before the outbreak of war with Iran. He expects a significant jump in the US March PPI data, but this is not a good benchmark, as its year-on-year figure will be the highest since January 2025.

TC Energy Says The Keystone Pipeline Will Reduce Volume

Aria Thomas

Nov 16, 2022 14:45

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TC Energy (NYSE:TRP) of Canada reported on Tuesday that its Keystone oil pipeline with a capacity of 622,000 barrels per day will limit output due to recent severe weather-related disruptions on system facilities.


Monday was the day that the Calgary-based corporation informed consumers of the force majeure situation. Citing customer confidentiality, TC did not reveal the extent or duration of the service cut.


"The notices informed customers that the Keystone System will be obliged to restrict volumes commencing on November 15 due to the time the system was halted during the force majeure incident," TC said in a statement.


Two market sources reported a 7% volume decrease. According to one of the sources, the price of Canadian heavy crude dipped on Monday and then recovered on Tuesday.


According to NE2 Inc, Western Canada Select heavy blend crude for December delivery closed $28.60 per barrel below U.S. crude futures, after trading at $28.85 per barrel the previous day.


Keystone is an essential part of Canada's oil export network, delivering crude oil from Alberta to the United States. Midwest followed by Gulf Coast.


In order to test the system, TC stated in October that it would temporarily increase the capacity of its Keystone pipeline for a few months beginning in November.

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