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Brent/U.S. oil spread widens on Seaway pipeline outage -trade
October 7, 2013 / 2:42 PM / 4 years ago

Brent/U.S. oil spread widens on Seaway pipeline outage -trade

NEW YORK, Oct 7 (Reuters) - The closely watched spread between global benchmark Brent oil and U.S. benchmark West Texas Intermediate widened on Monday after a report that the Seaway pipeline was shut, trade industry sources said.

The report was from the industry intelligence firm Genscape, the sources said.

Seaway carries crude from Cushing, Oklahoma, the delivery point for the U.S. oil futures contract, to Gulf Coast refineries.

Separately, traders said Genscape reported crude oil inventories at the Cushing hub rose by 220,000 barrels between Tuesday and Friday last week.

The Brent-WTI spread CL-LCO1=R widened to $6.32 per barrel after settling at $5.62 on Friday.

Reporting By Jeanine Prezioso, Robert Gibbons and Selam Gebrekidan; Editing by John Wallace

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