Two new pipelines transporting crude from the Permian Basin of West Texas and New Mexico to the coast have reduced flows from West Texas to Cushing, traders and analysts said.
Houston-based Kinder Morgan is cashing in its Canadian affiliate plus ownership in the Cochin pipeline through asset sales to Pembina Pipeline worth roughly $2.5 billion.
Two U.S. shale producers have challenged an energy pipeline operator's proposed surcharge for the Trump administration's 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.
The lender group for Venture Global's $5.8 billion construction financing includes the world's leading Asian, European and North American project finance banks, the company said.
The spread between Brent and WTI has narrowed, making US oil less attractive.
The agreement between Elevate Midstream and Sabine Oil and Gas increases gas gathering and processing capabilities in the Carthage area within the Haynesville Shale.
Together, the Appalachia and Permian basins are expected to supply about 53% of the North American gas market by 2030, according to McKinsey and Co.