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WTI Surges Higher on Keystone Pipeline Outage

OIL

WTI futures and the prompt spread surge higher after reports of a shutdown in the Keystone Oil pipeline following a leak in Nebraska.

  • TC Energy Corp. said it shut the Keystone oil pipeline system after a leak near Steele City, Nebraska. The pipeline can carry more than 600kpb of crude.
  • The affected segment has been isolated and the system shut down with work to contain and recover the oil.
    • WTI JAN 23 up 3.7% at 74.7$/bbl
    • Brent FEB 23 up 2% at 78.72$/bbl
    • WTI-Brent up 0.61$/bbl at -4.14$/bbl
    • WTI JAN 23-FEB 23 up 0.39$/bbl at 0.12$/bbl
    • WTI FEB 23-MAR 23 up 0.3$/bbl at 0.06$/bbl

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