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Heavy Louisiana Oil Gains as Exxon Shuts Pipe ‘Indefinitely’
Nov. 14, 2011 08:43PM PST
Oil and Gas InvestingBloomberg 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.
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.