spooh/E+ via Getty Images Multiple oil pipeline outages across western Canada have disrupted petroleum flows to the U.S. and global markets, Bloomberg reported Friday. Two of Canada’s largest oil-sands upgrading facilities – Syncrude and Canadian Natural Resources’ (NYSE: CNQ ) Horizon – have dealt with disruptions this month, causing supply cuts to customers that prompted Enbridge (NYSE: ENB ) to seek more crude earlier this week for its Mainline system, which delivers to several refiners. TC Energy’s (NYSE: TRP ) Keystone pipeline was hit earlier this week by power outages due to ice accumulation, Pembina Pipeline’s (NYSE: PBA ) Northern Line that transports natural gas liquids has been temporarily suspended after a spill in Alberta, and Enbridge’s ( ENB ) Express Pipeline suffered problems with third-party utilities that cut rates. Canada is a major supplier of crude to U.S. refiners, and the supply disruptions have raised prices for the low-sulfur grades produced by Canadian upgraders. Increased buying from China recently narrowed Western Canadian Select crude’s discount to U.S. WTI crude, but the spread widened slightly on Friday to US$23.75/bbl as Keystone pipeline rates were cut, according to Bloomberg. Enbridge ( ENB ) needs just 3% of its distributable cash […]
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