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Buckeye Expects Oil Line Back in Service This Week

Dec. 7 (Bloomberg) -- Buckeye Partners LP expects an 8-inch oil-products pipeline to return to service by the end of this week, after it was shut following the discovery of a leak on Dec. 2 at a site in Illinois,

“The line will be up by the end of the week if there are no weather or equipment delays,” Jerry Ashcroft, Buckeye’s vice president of operations, said in an e-mailed statement.

The line, which runs from East St. Louis, Illinois, to Chicago, was drained to allow repairs. The company said about 100 gallons of gasoline spilled from the line in Livingston, Illinois, according to a filing last week with the Illinois Emergency Management Agency.

The discount for conventional, 87-octane gasoline in Chicago has narrowed 4.75 cents, or 38 percent, to 7.75 cents a gallon versus futures traded on the New York Mercantile Exchange since the leak was reported Dec. 2, according to data compiled by Bloomberg.

To contact the reporter on this story: Samantha Zee in San Francisco at szee@bloomberg.net; Paul Burkhardt in New York at pburkhardt@bloomberg.net;

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.

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