Crude differentials ease, Midland weakness persists [Reuters]
ENERGY TRANSFER PARTNERS LP (ETP)
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Source: Reuters
Crude differentials ease, Midland weakness persists | Reuters Reuters Staff 1 Min Read NEW YORK (Reuters) - U.S. crude grades eased across the board on Thursday, with Midland grades weakening more than their coastal counterparts. Midland grades slipped, though not enough to erase the gains they made on Wednesday. Still, they hover near multi-year lows, as they continue to be weighed down by limited regional takeaway capacity. Energy Transfer Partners LP said it plans to build a crude pipeline from the Permian basin to the Houston Ship Channel and Nederland, Texas by 2020. The pipeline will have an initial capacity of up to 600,000 barrels per day (bpd), expandable to 1 million bpd, the company said during an earnings conference call. Coastal crude grades were slightly weaker, though WTI’s steep discount to Brent continues to incentivize exports. Exxon Mobil Corp began restarting the second-largest crude distillation unit (CDU) at the 502,500-bpd Baton Rouge, Louisiana refinery, which
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