"TransCanada Says Keystone Resumes Shipping Crude Oil"

"TransCanada Corp's 591,000 barrel-per-day (bpd) capacity Keystone pipeline resumed shipping crude oil, one week after being shut by a leak at a Kansas pumping station, the Calgary-based company said in a statement.

The restart comes a day after the U.S. Pipeline and Hazardous Materials Safety Administration said TransCanada could restart the Keystone by meeting a series of safety requirements to prevent leaks that idled the key export line for Canadian crude twice in May.

Oil prices rose 2 percent to three-week highs soon after the May 29 outage as it limited oil shipments from Canada, the largest crude supplier to the United States. Canadian cash oil prices weakened as supplies backed up in Alberta.

U.S. crude oil futures were trading 15 cents lower at $100.07 a barrel following the restart."

Erwin Seba reports for Reuters June 7, 2011.

SEE ALSO:

"U.S. Orders Safety Review Of Keystone Oil Pipeline" (Reuters)

"DOT Shuts Down Tar Sands Pipeline" (Mother Jones)

"U.S. To Have Meetings on  Keystone Pipeline" (UPI)

"OVERNIGHT ENERGY: Fight Over Proposed Oil Pipeline Heats Up" (E2 Wire)

"U.S. Oil Industry Warns China Will Fill Keystone Pipeline Vacuum" (Toronto Globe and Mail)

"Oil moving again through Keystone pipeline: TransCanada" (Postmedia)

"US: Canadian Oil Pipeline Hazardous To the Environment" (Christian Science Monitor)

"U.S. OKs Keystone Pipeline Restart Plan" (WSJ/MarketWatch)

Source: Reuters, 06/07/2011