Heavy Alberta Oil Falls Below $50 a Barrel, Lowest in 21 Months
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Western Canada Select oil fell below $50 a barrel for the first time in more than 21 months as demand to ship crude on North American pipelines exceeded capacity.
Kinder Morgan Energy Pipeline LP apportioned demand to ship oil on its Platte pipeline system from Guernsey, Wyoming, to Wood River, Illinois, in July by 82 percent, the company said June 25. Enbridge Inc. will shut its Line 5 crude-oil pipe to Sarnia, Ontario, from Superior, Wisconsin, from July 17-20 to conduct tests, two people with direct knowledge of the plans said June 8.