Bakken oil on the spot market strengthened to its narrowest discount to the U.S. benchmark crude in six weeks as PBF Energy Inc. (PBF) expects to receive its first rail shipment from North Dakota at its Delaware refinery.
PBF finished construction on the second train unloading terminal at its 182,800-barrel-a-day Delaware City refinery, the company said in a statement. PBF expects to unload its first unit train of Bakken oil this week, with 17 more scheduled to arrive in the next two weeks.
Bakken oil priced in Clearbrook, Minnesota, narrowed its discount to West Texas Intermediate in Cushing, Oklahoma, by 15 cents, to $3.10 a barrel at 12:13 p.m. New York time, according to data compiled by Bloomberg. The spread between the two oils changed for the first time in two weeks and is the smallest since Dec. 20.