CANADIAN OIL FUELS U.S. IN WEST

Canadian oil sellers are sending exports to the U.S. West Coast, an unexpected move prompted by the staggered global demand recovery from the pandemic. For the second time this month, a tanker will load crude from oil-rich Newfoundland and head to the U.S. West Coast, shipping fixtures compiled by Bloomberg show. The BP Plc-booked Aquasurazo is set to receive supplies this weekend destined for the Cherry Point refinery in Washington.

Last week, a Chevron Corp.-chartered vessel loaded at Newfoundland and is en route to plants in California. The rare voyages reflect the changing needs — albeit temporary — of the largest buyers of Newfoundland's crude. “The Atlantic Basin imbalance and continued lockdowns in Canada are creating a temporary crude market dislocation,” said Zachary Rogers, at Rapidan Energy Group. Bloomberg