Bakken Oil Premium Weakens as Enbridge Shuts North Dakota Line

Bloomberg reported that the premium for Bakken crude weakened after Enbridge Inc. (NYSE:ENB) shut a leaked pipeline in North Dakota.

The market news is quoted as saying:

Enbridge shut the 25,000-barrel-a-day Line 26, which transports oil from Berthold, North Dakota, to Steelman, Saskatchewan, Lorraine Little, a company spokeswoman, said in an e-mail. While it isn’t known when the line will return to service, the incident isn’t expected to affect deliveries scheduled throughout the system, she said.

About 20 barrels of oil leaked yesterday after a relief valve broke off a pump because of vibration, according to a filing with the National Response Center. A “small amount” of the release reached a marsh area, the filing showed.

Click here to access the entire news