EUR/USD 1.16409
-0.124%
Gold 4547.11
-0.417%
Oil 102.763
0.737%
USD/JPY 159.038
0.119%
GBP/USD 1.34075
-0.187%
GBP/JPY 213.235
-0.065%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 19th - Daiwa Securities economist Kento Minami stated that despite Tuesdays GDP data showing robust export growth from January to March, exports are expected to face downward pressure in the future. He pointed out, "Exports to the Middle East will continue to face direct downward pressure due to the closure of the Strait of Hormuz, while production cuts caused by domestic supply constraints are expected to drag down overall merchandise exports." He added that inbound tourism (a component of exports in GDP data) has already slowed due to fewer tourists and may weaken further due to rising fuel surcharges.On May 19th, the UK Office for National Statistics stated on Tuesday that tax data showed labor demand was weakening as the war with Iran continued, leading to significant job cuts by British employers in April. Following a decrease of 28,000 employees on payroll in March, April saw a further reduction of 100,000, far exceeding economists expectations of a 10,000 drop, with the retail sector accounting for the largest share. The UKs three-month ILO unemployment rate rose to 5% in March from 4.9% in February, while the number of job vacancies fell to its lowest level since 2021. Economists are lowering their 2026 economic growth forecasts due to another energy shock triggered by the Middle East conflict. Despite a healthy 0.6% growth in the first quarter, forecasters expect UK economic growth to return to a more subdued level for the remainder of the year.According to the Islamic Republic News Agency (IRNA), Irans Deputy Foreign Minister stated that the proposal also includes ending the war between the parties, including those in Lebanon, and the withdrawal of US troops from areas near Iran.A Bank of America survey showed that cash levels (among respondents) fell to 3.9% in May from 4.3%, the largest monthly drop since February 2024.A Bank of America survey found that 40% of respondents considered a second wave of inflation to be the biggest tail risk.

TC Energy Says The Keystone Pipeline Will Reduce Volume

Aria Thomas

Nov 16, 2022 14:45

14.png


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.

Suggestion