Canadian National Railway (CN) expects to move more crude oil by rail in the second half of this year as it will have more capacity on its trains, chief executive officer Jean-Jacques Ruest told analysts on Tuesday. “In the second half we will have more capacity, therefore we will also be able to execute a bigger book of business of crude,” Ruest told analysts after the company reported second-quarter profits, beating analyst estimates thanks to higher volumes of commodities moved by rail, including crude oil. CN’s crude by rail revenues rose in Q2 compared with the same period last year, thanks to better pricing, Ruest told analysts. With pipeline capacity out of Canada full, oil producers look for more crude-by-rail shipments to move their production to the market. Due to the transportation bottlenecks, the discount at which Western Canadian Select (WCS) —the benchmark price of oil from Canada’s oil […]