Bullionguru’s”Oil pipeline firms’ discounts rile clients, roil markets”

File Photo: Pipelines run to Enbridge Inc.’s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016. Picture taken March 24, 2016. REUTERS/Nick Oxford/File Photo

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. pipeline operators are selling their underused space at steep discounts to keep crude flowing – angering shippers and distorting an already opaque market for oil trading.

Pipeline firms such as Plains All American (N:PAA) and TransCanada Corp (TO:TRP) move about 10 million barrels of crude around the United States every day.

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