Canadian Oil Contract for June Gains as Traders Await Kearl Output

Resource Investing

Bloomberg reported that Canadian oil for June delivery gained 50 cents to $15.25 per barrel as traders speculate the first Kearl delivery of supply may be delayed until the 3rd quarter.

Bloomberg reported that Canadian oil for June delivery gained 50 cents to $15.25 per barrel as traders speculate the first Kearl delivery of supply may be delayed until the 3^rd quarter.

As quoted in the market news:

Kearl oil could reach the market by June, since it will take roughly two months from production to delivery, though that date could slip, FirstEnergy Capital Corp. analyst Michael Dunn said in a telephone interview from Calgary.
“Since first oil hasn’t yet occurred, there’s more chance that could slip into July as days tick by,” Dunn said.

Click here to read the full Bloomberg report.