Oil producers in Canada and North Dakota are expected to benefit from a quicker route for crude oil to U.S. Gulf Coast refiners. TransCanada Corp said it would resubmit an application for a permit for Keystone XL after Trump signed an order saying the company could re-apply. OIL INDUSTRY CHEERSThe North Dakota Petroleum Council, the trade group for state oil producers relying on Dakota Access to expand their crude transport options, cheered Trump's order. The more than 800,000 bpd Keystone XL pipeline would bring heavy crude from Canada to the U.S. Gulf Coast. Shares of ETP, the company building the 450,000 barrel-a-day Dakota pipeline, ended the day up 3.5 percent in U.S. trading.

Source: The Edge Markets January 24, 2017 23:55 UTC