West Texas crude’s discount to Brent prices widened from the narrowest in almost nine months after Exxon Mobil (NYSE:XOM) shut its 96K bbl/day Pegasus pipeline system due to a leak in Arkansas. Inventories already are high, and the pipeline closure will mean less crude can be transported from the U.S. Midwest, potentially exacerbating a glut of oil coming from Canada to the Midwest.
West Texas crude’s discount to Brent prices widened from the narrowest in almost nine...
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Symbol | Last Price | % Chg |
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XOM | - | - |
Exxon Mobil Corporation |