Analysts say Trans Mountain pipeline expansion likely to send more Canadian oil to U.S., not Asia

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Open this photo in gallery: A pipe yard servicing government-owned oil pipeline operator Trans Mountain, in Kamloops, B.C., on June 7, 2021.JENNIFER GAUTHIER/Reuters The Trans Mountain pipeline expansion (TMX) was meant to unlock Asian markets for Canadian oil, but analysts and traders said those barrels now will probably land on the U.S. West Coast as Asia gobbles up Russian oil that is cheaper due to sanctions from Western countries after Moscow’s invasion of Ukraine. Asia’s heavy crude refining market is roughly nine times the size of California’s, but the geopolitical upheaval means Canada will struggle to reduce its reliance on...