West Texas Intermediate's discount to Brent was just $4 per barrel as of Monday, the smallest spread in almost 12 months, as the impending startup of several new oil pipelines in the Permian Basin lifts prices. Three new Permian pipelines are slated for start up before 2020, adding some 2.5 million barrels of daily midstream capacity.
WTI-Brent price gap narrows as Permian pipelines come online
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