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UPDATE 1-TransCanada seeks to raise spot tariffs on Marketlink oil pipeline -FERC
October 26, 2017 / 6:13 PM / in 2 months

UPDATE 1-TransCanada seeks to raise spot tariffs on Marketlink oil pipeline -FERC

(Updates with market reaction)

NEW YORK, Oct 26 (Reuters) - TransCanada Corp is seeking to raise the temporary discounted spot rate for light crude on its 700,000 barrel-per-day Marketlink pipeline effective Dec. 1, according to a Federal Energy Regulatory Commission filing on Thursday.

Light crude oil moving from Cushing, Oklahoma into Port Arthur or Houston in Texas will be raised to $3.00 a barrel from $2.50 a barrel previously, according to the filing. The heavy crude tariff rate at $3.00 a barrel remains unchanged.

U.S. crude benchmark’s discount to global marker Brent WTCLc1-LCOc1 widened to a session low after news of the announcement, touching $6.59 a barrel, the largest in a month. (Reporting by Catherine Ngai in New York and Bryan Sims in Houston; Editing by Cynthia Osterman and Chizu Nomiyama)

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