Markets remained on a downward, with the largest activity stemming from WTI by $7.22 into the $95 USD/bbl range. There have been reports that Iran and the US are close to a peace deal that could lead to the gradual reopening of the Strait of Hormuz.

Dawn and NYMEX experienced another downturn day, moving $0.07 CAD/GJ and $0.08 USD/MMBtu down respectively in the 12-month strips. Drops in exports and a surge in net Ontario imports, along with improved flow at St. Clair (Dawn), have led to an increased number of injections in the Dawn hub supply. Meanwhile, local demand is expected to fall further as we progress into warmer spring weather. (HX)