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Eastern Canadian oil being sent to U.S. West Coast in demand shift
Staggered demand recovery is prompting Canadian Eastern Coast oil to be sent to the West Coast of the U.S.. Bloomberg News' Sheela Tobben has the details.
Large-cap financials the best opportunity for returns: Global market strategist
J.P. Morgan Global Market Strategist Jack Manley says not all cyclical value stocks are created equal. He says the outlook for bank earnings in a higher treasury yield environment is a better bet than energy or airlines, both dependent on liquid fuel which is wavering in demand.
Oil has best week since early March on improving demand outlook
Oil posted the biggest weekly gain since early March as signs emerged of a recovery from the pandemic gaining traction in the U.S. and China.
Eastern Canada oil heads to U.S. West Coast in rare demand shift
Canadian oil sellers are sending exports to the U.S. West Coast, an unexpected move prompted by the staggered global demand recovery from the pandemic.
Houthis attack Saudi Aramco site in oil refinery town of Jazan
Saudi Arabia’s oil facilities were targeted with drones and missiles for the second time in a week, with Yemen’s Houthi rebels claiming an attack on the south-western refinery town of Jazan.
Oil fluctuates after jumping on signs of robust U.S. comeback
Oil wavered Thursday after breaking out of a month-long range with countries like the U.S. highlighting the demand recovery starting to take shape.
U.S. oil comprised 77% of Canada's foreign oil imports last year
Canada is growing ever more reliant on imported American oil, a new report from the country's energy regulator suggests, putting a counter-intuitive spin on the fierce debate about cross-border pipelines and energy independence.
Oil surges to highest in a month with U.S. demand picking up
Oil surged to the highest level in a month -- breaking out of a weeks-long holding pattern -- as shrinking crude stockpiles in the U.S. supported hopes for a global demand recovery.
Oil rises with OPEC expecting demand rebound to absorb output
Oil climbed after OPEC boosted its expectation for this year’s demand recovery, predicting the market will be able to absorb the extra supply from a revival of the alliance’s output.