China Buys Up Russian Oil

1. As TMX Starts Line Fill, China Takes Centre Stage - Canadian crude will start flowing to China directly (up until now it has only been exported from the US Gulf Coast) as the impending launch of the Trans Mountain Expansion pipeline saw the first deals being made. - Chinese refiner Sinochem bought the first ever TMX cargo, an Aframax worth of heavy sour Access Western Blend at the equivalent discount of $5 per barrel to August ICE Brent futures on a delivered basis. - Canadian crude exports are set to surpass the 5 million b/d threshold…