Oil was little changed and the spread between West Texas Intermediate crude in the U.S. and Londonâ€™s Brent widened to a four-week high on limits to the Seaway pipeline that links the Midwest to the Gulf Coast.
Futures in New York were steady and Brent advanced after Enterprise Product Partners LP (EPD) said yesterday that restrictions at the Jones Creek terminal will limit flow on Seaway until late 2013. The spread between the U.S. and European benchmark grades narrowed to a four-month low last month on speculation the reversal of Seaway will relieve a glut in the central U.S.
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