Energy

Canada to fast track oil pipeline designed to diversify economy away from US - reuters.com

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DW NOTE

Canada is announcing a fast-track pipeline to diversify away from US markets while the Strait of Hormuz sits closed, global inventories are draining at 3 million barrels per day, and WTI is down 18.8% from its one-year high. The pipeline won't flow for years — the inventory deficit is happening now.

Read the full story at reuters.com →

The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Canada to fast track oil pipeline designed to diversify economy away from US - reuters.com

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