U.S. judge halts Keystone XL oil pipeline in blow to Trump, Trudeau

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By Rod Nickel and David Gaffen

WINNIPEG, Manitoba/NEW YORK (Reuters) – A U.S. judge in Montana has blocked construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing praise on Friday from environmental groups and a rebuke from President Donald Trump.

The ruling of a U.S. Court in Montana late on Thursday dealt a setback to TransCanada Corp, whose stock fell 1.7 percent in Toronto. Shares of companies that would ship oil on the pipeline also slid.

TransCanada said in a statement it remains committed to building the $8 billion, 1,180 mile (1,900 km) pipeline, but it has also said it is seeking partners and has not taken a final investment decision.

The ruling drew an angry response from Trump, who approved the pipeline shortly after taking office.

Read more at : https://www.investing.com/news/commodities-news/us-judge-halts-keystone-xl-pipeline-dealing-project-another-setback-1682089

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