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Bakken Oil drops against West Texas Int. because of Minnesota Pipe Shutdown

Crude from the Bakken shale formation
weakened against the U.S. benchmark West Texas Intermediate
after a pipeline from Clearbrook, Minnesota, to the Twin Cities
area was shut because of a leak.

Bakken fell 50 cents a barrel to a discount of $4.50 a
barrel over WTI at 2:08 p.m. New York time, according to data
compiled by Bloomberg. Koch Pipeline Co. LP is testing the line
that closed near Foley, Minnesota, and doesn’t have an estimate
on when it will return to service, said Jake Reint, a company
spokesman based in Rosemont, Minnesota.

Oils produced on the Gulf Coast strengthened against WTI.
Light Louisiana Sweet gained 45 cents to a $5.90 premium. Heavy
Louisiana Sweet rose 50 cents a barrel to a premium of $5.40 a
barrel over WTI.

Southern Green Canyon weakened by 15 cents a barrel to a
discount of 75 cents under WTI.

Poseidon strengthened 30 cents a barrel to a premium of 20
cents. Mars Blend’s premium widened 15 cents to 40 cents.

To contact the reporter on this story:
Eliot Caroom in New York at
ecaroom@bloomberg.net

To contact the editor responsible for this story:
Dan Stets at
dstets@bloomberg.net

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