Random Update On Crude Oil Pricing; Oh, No, Not Another Leak -- At Least It Was Not A Runaway Freight Train That Destroyed A Town
Bloomberg is reporting:
Crude from the Bakken shale formation weakened against the U.S.
benchmark West Texas Intermediate after a pipeline from Clearbrook, Minnesota, to the Twin Cities area was shut because of a leak.
Bakken fell 50 cents a barrel to a discount of $4.50 a barrel
over WTI at 2:08 p.m. New York time, according to data compiled by
Bloomberg. Koch Pipeline Co. LP is testing the line that closed near
Foley, Minnesota, and doesn’t have an estimate on when it will return to
service, said Jake Reint, a company spokesman based in Rosemont,
Minnesota.
Oils produced on the Gulf Coast
strengthened against WTI. Light Louisiana Sweet gained 45 cents to a
$5.90 premium. Heavy Louisiana Sweet rose 50 cents a barrel to a premium
of $5.40 a barrel over WTI.
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