Friday, September 17, 2010

Enbridge (NYSE:ENB) Reopens Pipeline

After finding a leak on September in one of their pipelines and ultimately having to shut it down, Enbridge Energy Partners (NYSE:ENB) announced today it has now been reopened, again transporting crude oil from Canada to Illinois refineries.

The pipeline, which at full capacity can move up to 670,000 barrels of oil daily, reportedly provides close to 70 percent of the capacity for Chicago-area refineries.

Gas prices soared by as much as 15 cents a gallon in response to the shutting down of the pipeline.

The leak happened in the Chicago suburb of Romeoville, releasing about 6,100 barrels into the area before shutting it down.

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