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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Cogito Ergo Sum who wrote (20855)	2/6/2013 11:56:48 PM
From: Snowshoe	Read Replies (1) of 24905

More rail shipments coming on line... North Dakota's Bakken Oil Finally Hits the East Coast businessweek.com While some Bakken barrels have started arriving on the East Coast, a whole lot more are on their way in 2013. A number of projects scheduled to finish this year will more than double the amount of Bakken crude that finds its way to the East Coast, from about 300,000 barrels per day to more than 800,000, according to Eric Lee, an oil analyst at Citigroup (C). ***** At $93.39 a barrel, the spot price of Bakken crude is trading about $3 below the price of WTI and more than $23 below the price of Brent. Using a combination of rail and barges, it costs anywhere from $14 to $16 a barrel to get Bakken crude to the East Coast. At today’s prices, that still leaves a barrel of Bakken crude $7 cheaper than imported Brent, plenty of room to improve margins for refiners. “East Coast refiners will make that trade all day,” says Gheit. “Every dollar saved is a dollar made.”

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