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West Texas Sour Strengthens as Magellan Fills Storage Tanks

June 4 (Bloomberg) -- West Texas Sour crude strengthens to narrowest discount vs WTI since March 25 after Magellan Midstream Partners LP said it’s filling storage tanks in Colorado City, Texas, for BridgeTex pipeline. * WTS +75c/bbl to discount of $6 at 201pm: data compiled by Bloomberg * WTI in Midland +5c/bbl to discount of $6.85 vs WTI in Cushing, Okla. * Magellan began filling storage tanks May 30: Robb Barnes, co.’s vice president for marine terminals and crude oil * Linefill on pipeline will follow storage tank filling: Barnes * Co. has 1.2m bbl storage in Colorado City: co. statement * BridgeTex pipeline will be able to deliver as much as 300k b/d crude to Houston from western Texas when operations begin * “It gives the market confidence that they’re moving on with BridgeTex commissioning,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston. “It created a demand for the amount of oil it takes to fill the tanks.”

To contact the reporter on this story: Dan Murtaugh in Houston at

To contact the editors responsible for this story: David Marino at Charlotte Porter, Richard Stubbe

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