What Venezuela's Return Means for Canadian Midstream

Impact · against what's priced in

The return of Venezuelan crude is a marginal catalyst for Gulf Coast refiners as their valuations already assume structural tightness and record margins. While the article confirms high throughput of cheaper Venezuelan barrels, this merely supports the existing narrative of exceptional profitability that the market has already baked into the current price levels.

MPC+0.00

Already priced in

The price assumes

current elevated refining margins