TC Energy, Sliding Oil Price: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PIPELINES
TC Energy Gets Permission to Put North Baja Expansion into Service - TC Energy Corporation's (NYSE:TRP) (Calgary, Alberta) North Baja Pipeline LLC unit has received permission from U.S. energy regulators to put the North Baja natural gas pipeline expansion in Arizona and California into service. The 495-million-cubic-foot-per-day North Baja expansion will supply more U.S. natural gas to Mexico. (Reuters)

NATURAL GAS
U.S. Natural Gas Drops About 4% - U.S. natural gas futures dropped about 4% on Tuesday on record output and forecasts for milder weather and lower demand over the next two weeks than previously expected. On its first day as the front-month, gas futures for July delivery on the New York Mercantile Exchange fell 9.0 cents, or 3.7%, from where the July contract closed in the prior session to settle at $2.327 per million British thermal units. That, however, was still up about 7% from where the June contract expired when it was still the front-month on Friday before the long U.S. Memorial Day weekend. (Reuters)

CRUDE OIL
Oil Slides 4% - Oil prices fell more than 4% on Tuesday on concerns about whether the U.S. Congress will pass the U.S. debt ceiling pact and as mixed messages from major producers clouded the supply outlook ahead of the OPEC+ meeting this weekend. Brent crude oil futures settled down $3.53, or 4.6%, at $73.54 a barrel. U.S. West Texas Intermediate (WTI) was down $3.21, or 4.4%, from Friday's close, to $69.46 a barrel. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).