Heavy Louisiana Sweet Drops as Keystone Starts Texas Deliveries
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Heavy Louisiana Sweet and other Gulf Coast crudes weakened the most in a month against West Texas Intermediate after the southern leg of TransCanada Corp.’s Keystone XL pipeline began deliveries to Texas from Cushing, Oklahoma.
The line is now transporting 288,000 barrels a day of U.S. light, sweet oil to Nederland, Texas, adding to crude supplies in PADD 3, the Gulf Coast region. Those stocks climbed last week by 870,000 barrels to 161.9 million, the first increase since Nov. 22, a government report showed.