🇨🇦 Canada’s oil discount is a $ 140m a dollar gift to US refiners. That’s what every $1 wider discount on Canadian heavy crude is worth to Phillips 66. The discount widened this year because tanker rates exploded. Canada has few cheap ways to sell its oil except south. 🔹 Marathon expects record Canadian heavy runs in Q4 🔹 HF Sinclair sees wide discounts through 2027 🔹 US refiners’ shares rose well over 100% this year at the peak, Reuters data show Canada pumps it. Washington’s refiners cash it. Here is the entry I took and why👇
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