Crude Oil Drops as Enbridge Says Pipeline Will Start Tomorrow
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Oil fell to a one-week low as Enbridge Energy Partners LP prepared to start a pipeline that supplies Canadian crude to refineries in the U.S. Midwest.
Futures dropped 1.9 percent after Enbridge said it plans to send oil through the pipeline tomorrow after repairing a leak discovered last week in Romeoville, Illinois. The company said it has discussed the startup with federal regulators. Enbridge shut a line in Michigan on July 26 after it ruptured.