Union Pacific's crude shipments to US Gulf Coast down in 4Q-exec
HOUSTON Jan 23 (Reuters) - Union Pacific Corp's crude oil shipments via rail to the U.S. Gulf Coast were down 22 percent in the fourth quarter versus a year earlier as pipeline startups increased supply in the region, a senior executive told analysts on Thursday.
Narrowed discounts of U.S. crude prices to London's Brent also played a role in the decrease, Eric Butler, executive vice president of marketing and sales for the railroad, said during the company's fourth-quarter earnings call.
"Crude oil spreads, growing crude supply and increased pipeline activity are expected to have a continued impact on our crude by rail volumes," he said.
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