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8:30 am
Sat October 20, 2012

TransCanada reaffirms Keystone pipeline restart, Will Run Through Cushing

UNDATED (AP) —TransCanada is reaffirming its plan to restart the Keystone oil pipeline from Canada to the Midwest on Saturday, although rainy weather is hampering the company's efforts.

TransCanada shut down the 2,100-mile pipeline Wednesday after tests showed possible safety issues. A company spokesman said Friday that no leaks have been detected but declined to provide more specifics until the pipeline is inspected.

The pipeline carries about 590,000 barrels of crude per day from Canada to facilities in the Midwest. The problems were detected in a section of the line between Missouri and Illinois.

Crude supplies are plentiful across the U.S. so the temporary closure isn't expected to affect refinery production or retail gas prices. West Texas Intermediate crude priced at Oklahoma's Cushing hub closed the week down over two percent to $90.05 a barrel.

Copyright 2012 The Associated Press.