Magellan Sees Little Opportunity for Spot Shipments

摘要

Low oil prices and thin spreads could eat into spot shipments on crude oil pipelines, Magellan Midstream told investors late last week. “The current pricing environment does not appear to be conducive to spot shipments” on the 250,000 barrel per day Longhorn pipeline from Midland, Texas, to coastal refineries, Magellan’s Michael Mears said during a quarterly earnings call.