Seaway Capacity Back to Pre-Expansion Levels: 175,000 BOPD

Details sketchy as to why. Easy to find many links, but not much information. Here is one link.

Four data points:

• CNBC reported increase in crude oil supples
• CNBC is reporting decrease in gasoline supplies
• the link above, with two more data points:

WTI’s drop “was triggered by the Seaway headlines,” said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. “There will be less oil getting to the Gulf. Some refineries might have to cut back runs, which will hurt demand for WTI.”

Enterprise Products Partners LP and Enbridge Inc. limited capacity, owners of the pipeline, advised shippers that Seaway’s capacity limit is due to “unforeseen constraints in outbound takeaway.”

For whatever reason, WTI has bounced back today, now up over a dollar/bbl.