U.S. Refiners Seek Domestic Crudes
This is a U.S. news story, published by Yahoo Finance, that relates primarily to Matthew Lucey news.
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Canadian crudeReuters
•Business
Business & Economics
US refiners mull switch to alternative lighter crudes amid Trump tariff fears
77% Informative
More than 70% of U.S. processing capacity is configured to run heavier crude, which is cheaper to import from Canada and Mexico .
Marathon Petroleum, which processes large amounts of heavy crude from Canada , said its refineries in the Mid-Continent region could switch from processing heavy sour crude to other grades.
Refiners that run Canadian crude on the margin to switch to light sweet crude, analysts say.
U.S. imports of Canadian crude hit record highs in January ahead of impending tariffs.
Valero Energy anticipates a reduction in refining throughput if heavy crude feedstocks become limited.
PBF Energy CEO Matthew Lucey : " The Mid-Con needs Canadian oil to maintain throughput".
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