CDN NEWS | 
US NEWS 
First, it’s good to see Steven Guilbeault spout off his lies and misinformation, all the while knowing that he has assumed the role of Minister of Canadian Identity and Culture, a place where he will also have control over what can (and cannot) be said on the internet. Yesterday, the Minister of Misinformation said the TMX pipeline was operating at “about 40 per cent capacity.” Well, lucky for us, the Government of Canada posts DATA about what is actually happening on the pipeline, and it can be found here: Trans Mountain Expanded System. I will cut to the chase. The pipeline has actually been running at 80-85% capacity, and you actually want some flex in the system so that producers have the ability to access different markets (i.e. you don’t want all pipes full, otherwise you cannot get incremental barrels to market).
And now back to our regularly scheduled programming.
US Natural Gas Storage
The latest data for gas in storage in the US is out and showed a build of 110 bcf, right in line with consensus estimates that were looking for a build of 110 bcf (neutral). Note that this is still ahead of the 5 year overage for this time of year of 83 bcf.
My SWAG has slipped to the mid-point of the ranges of “forecast” outcomes.
US Crude Oil and Refined Product Inventories
The data from yesterday is below
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