New US pipe capacity narrows sour crude spreads

摘要

Houston—Additional takeaway capacity from the storage hub in Cushing, Oklahoma, has relieved a bottleneck and helped close the price gap between cheap Canadian crudes and other sour grades on the US Gulf Coast. The outright price difference between Western Canadian Select at Cushing and US Gulf Coast sour benchmark Mars was $18.77/barrel on January 22, the day crude flows started on TransCanada’s 700,000 b/d Gulf Coast pipeline, which runs from Cushing to Nederland, Texas.