Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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 dmurtaugh@bloomberg.net

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Charlotte Porter, Richard Stubbe

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.