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The Financial Post reported today that oil prices in Canada are holding steady, although shares in TransCanada Corp. (TSX:TRP) fell after news that the U.S. would delay a decision regarding the company’s Gulf Coast pipeline project. TransCanada share prices fell by 3.7% in Toronto on Monday, the biggest fall since summer 2009, according to the Post.
The Financial Post reported today that oil prices in Canada are holding steady, although shares in TransCanada Corp. (TSX:TRP) fell after news that the U.S. would delay a decision regarding the company’s Gulf Coast pipeline project. TransCanada share prices fell by 3.7% in Toronto on Monday, the biggest fall since summer 2009, according to the Post.
As quoted in the publication:
Investors have become used to Keystone delays. The April 18 announcement by the U.S. State Department, which is responsible for reviewing whether Calgary-based TransCanada’s proposal is in the nation’s interest because the line would cross an international border, will likely allow Obama to defer a decision on Keystone until after congressional elections in November.