The Daily Chase: Big banks hike prime rates; TC Energy shuts down Keystone
BNN Bloomberg
The nation’s largest lenders wasted precious little time in passing along the higher cost of borrowing to consumers in the wake of the Bank of Canada’s half-percentage point hike yesterday.
TC ENERGY SHUTS DOWN KEYSTONE AFTER LEAK
TC Energy has shut down its massive Keystone oil pipeline system after a leak into a creek near Steele City, Nebraska. The company has not detailed the scope of the leak, but says the affected section has been isolated and the system remains shut as crews look to contain and recover the oil. The Keystone system can carry roughly 600,000 barrels per day, and is a key conduit for Canadian oil exports to the United States. Not to muddy correlation with causation, but West Texas Intermediate futures have surged about three per cent in the wake of the news.
