The logistics of the oil market is proving to be a lucrative business, even as the price of crude plunges toward multi-year lows. Companies that transport and store oil and refined products, as well as manage shipping terminals reported soaring profits this week. The glut of crude driving down prices is also creating more work for petroleum logistics firms, also known as midstream companies. Higher volumes of oil being brought to market generally means more business for operators of pipelines, tanker trucks, storage tanks and marine terminals. Tesoro Logistics TLLP -0.42 % LP reported second-quarter income of $72 million on Wednesday, more than twice its net income as the same quarter a year ago, citing big gains in oil production and an improving climate for its terminal and transportation businesses. Spectra Energy Partners SEP -1.53 % and Arc Logistics Partners ARCX 0.00 % LP also posted earnings this week […]