HOUSTON: Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies.
Centurion, which consists of two lines rated at 170,000 barrels per day combined, had the smaller line flowing to West Texas. But in 2014 former owner Occidental Petroleum shifted its direction to Cushing to take advantage of the then-deep discounts on shale in the Permian Basin. Reversing one line would support crude prices at Cushing as storage there is drained, and restrain Midland prices that have risen with the startup of new Plains All American Pipeline LP and EPIC Midstream Holdings LLC's lines, traders and shippers said.
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