Trans Mountain Expansion to Increase Canadian Oil Exports to Asia, Raising Prices for U.S. Refiners

Trans Mountain expansion will increase oil exports from Canada to Pacific ports and Asia, diverting supply from U.S. Midwest and Gulf Coast.
More Canadian supply to Asia may raise crude prices for U.S. Midwest refineries by up to $2 per barrel.
With more export capacity, Canada will be less vulnerable to pipeline congestion and oil price volatility.
Gulf Coast re-exports of Canadian oil to Asia will be less viable once Trans Mountain opens.
China is currently the top destination for re-exported Canadian crude from the U.S. Gulf Coast.

reuters.com

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