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Commodities

Oct 26, 2017

TransCanada seeks to raise spot tariffs on Marketlink oil pipeline: U.S. regulator

Reuters

TransCanada Pipeline

TransCanada Pipeline

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NEW YORK - TransCanada Corp is seeking to raise the temporary discounted spot rate for light crude on its 700,000 barrel-per-day Marketlink pipeline effective Dec. 1, according to a Federal Energy Regulatory Commission filing on Thursday.

Light crude oil moving from Cushing, Oklahoma into Port Arthur or Houston in Texas will be raised to US$3.00 a barrel from US$2.50 a barrel previously, according to the filing. The heavy crude tariff rate at US$3.00 a barrel remains unchanged.

U.S. crude benchmark's discount to global marker Brent widened to a session low after news of the announcement, touching US$6.59 a barrel, the largest in a month.