The Globe and Mail reported that inclement weather is preventing TransCanada Corp. (TSX:TRP) from examining its Keystone pipeline, which it shut down on Wednesday following a “small anomaly” on the pipe. However, TransCanada still expects the pipeline to be out of commission for just three days.
As quoted in the market news:
TransCanada has not given the location of the potential defect, but the U.S. Pipelines and Hazardous Materials Safety Administration said on Thursday it had sent an inspector to observe repairs on a section between Missouri and Illinois.
“Because of the ample supplies of oil (in the United States), a three-day closure is not extremely bullish – if they announce a delay, that’s when the market will start to get a bid in it again,” said Gene McGillian, analyst at Tradition Energy in Stamford, Conn.