- Colonial Pipeline says it will go back to rationing space on its main gasoline line, as demand to haul fuel recovers amid stronger prices in the northeastern U.S.
- The company says it will allocate space on the pipeline segment north of Collins, Miss., for the next five-day shipping cycle, as it typically does when nominations exceed capacity.
- East coast gasoline prices (NYSEARCA:UGA) remain firm after rallying to the strongest levels this year in July as inventories draw down from a record and a spate of refinery issues.
- Demand to ship fuel on the pipeline fell below capacity for the first time in six years in June as traders and refiners boosted exports instead of shipping to the northeast where stockpiles were bloated.
- Colonial's main gasoline line, with a capacity of 1.2M bbl/day, connects the refinery hub of the Gulf coast to the east coast; Colonial is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) and others.
- Now read: Brent Is At And Royal Dutch Pays A 6.97% Dividend - Enough Said
Original article