Bakken Strengthens With Shipment to Delaware; It Looks Like One Unit Train/Day From The Bakken; Another East Coast Refinery Railing in Bakken Oil

Link to Bloomberg.

Earlier today I noted that the spread between WTI/Bakken had narrowed to $3.15 at Clearbrook, MN. Note this article regarding pricing:

Bakken oil on the spot market strengthened to its narrowest discount to the U.S. benchmark crude in six weeks as PBF Energy Inc. expects to receive its first rail shipment from North Dakota at its Delaware refinery.

PBF finished construction on the second train unloading terminal at its 182,800-barrel-a-day Delaware City refinery, the company said in a statement. PBF expects to unload its first unit train of Bakken oil this week, with 17 more scheduled to arrive in the next two weeks.

Bakken oil priced in Clearbrook, Minnesota, narrowed its discount to West Texas Intermediate in Cushing, Oklahoma, by 15 cents, to $3.10 a barrel at 12:13 p.m. New York time, according to data compiled by Bloomberg. The spread between the two oils changed for the first time in two weeks and is the smallest since Dec. 20. 

Meanwhile, at the linked article, Western Canada Select (WCS), a mixture of heavy crudes from Alberta, is selling at a $30 discount to WTI. 

The article says that the Seaway expanded to 400,000 bbls/day but I thought that had been delayed until 4Q13; more to follow.

The spread began growing last week after Bill Ordemann, a vice president for Enterprise Product Partners LP, said restrictions at the Seaway pipeline’s Jones Creek terminal in Texas would last until a new pipeline lateral is finished in late 2013. 

Light Louisiana Sweet oil is selling at a premium of about $20 to WTI.