Reported about 12 hours ago
Canada's oil industry has managed to avert a significant crisis amid the ongoing trade tensions with the US, thanks to President Trump's decision to impose a 10% tariff on Canadian crude, which is less than anticipated. Analysts believe that Canadian producers may escape extra charges on oil that simply passes through the US, allowing for continued exports from the Gulf Coast. This situation could lead to a widening discount for Canadian heavy crude, although the US Midwest, heavily reliant on Canadian oil, might absorb some of the additional costs. Overall, while challenges remain, the impact of tariffs may not be as severe as originally feared.
Source: YAHOO