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Trafigura sending US oil through Panama Canal

Wednesday, March 30, 2016

After heading as far as Israel and China, unrestricted U.S. crude oil exports are set for another first since a 40-year ban on overseas sales was lifted three months ago: crossing the Panama Canal.

Trafigura, the trading house, is shipping a cargo of West Texas Intermediate oil via the 50-mile waterway en route to a refinery on Nicaragua’s western coast.

Source: Bloomberg