U.S. crude’s discount to global benchmark Brent on Friday firmed to the narrowest since late August as a pipeline from the Cushing, Oklahoma, storage hub to the U.S. Gulf Coast signaled new capacity coming in February, traders said. The spread between U.S. crude futures and Brent narrowed to as low as minus $7.50 per barrel, compared with an $8.47 discount on Thursday. Seaway Crude Pipeline LLC, a joint venture between Enterprise Products Partners LP and Enbridge Inc, on Friday announced a month-long open season on the Seaway crude pipeline system. The move prompted increased demand for barrels at Cushing, traders said. Expanding the system could add 100,000 barrels per day (bpd) of increased takeaway capacity from Cushing to the Texas Gulf Coast, starting in February, the companies said. “You’re going to export more barrels and not bring as much in,” one market participant said. The Seaway […]