Bakken Oil Plunges on Illinois Refinery Work, Pipe Restrictions
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Bakken oil’s premium to West Texas Intermediate plunged after Marathon Petroleum Corp. advanced maintenance at its Illinois refinery and TransCanada Corp. planned to restrict some oils on its Keystone pipeline in July.
Marathon will shut a crude unit at its Robinson refinery in Illinois about June 9, a person familiar with the situation said June 1. The work was previously scheduled for July, according to the person.