Heavy Louisiana Oil Gains as Exxon Shuts Pipe ‘Indefinitely’

Bloomberg reported that Heavy Louisiana Sweet oil has risen to a premium over Light Louisiana Sweet after Exxon Mobil Corp. (NYSE:XOM) closed a section of its Southwest Pipeline System from South Bend to Sunset, Louisiana.

As quoted in the market news:

The 12-inch pipeline carries oil from South Bend to Krotz Springs, Patricia Errico, an Exxon spokeswoman, said in an e- mail. Exxon made alternative arrangements available for customers before the closure, she said.

Click here to read the full Bloomberg report.