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Oil and Gas

CORRECTED - UPDATE 1-Largest oil terminal shut at NYMEX oil delivery hub

(Corrects para 6 to read “Springer said Embridge was working...”)

NEW YORK, Dec 11 (Reuters) - The largest crude oil terminal at the delivery point for NYMEX crude oil futures at Cushing, Oklahoma, and two major pipelines at the hub were still shut Tuesday after an ice storm hit the area Monday, a spokesman for the terminal said.

Enbridge Energy Partners LP's EEP.N 16.7 million barrel crude oil terminal and the Spearhead and Ozark crude oil pipelines operated by parent company Enbridge Inc ENB.TO were shut Monday, Enbridge spokesman Larry Springer said.

“They went down about 1:00 (Central Time),” said Springer.

Spearhead transports 125,000 barrels per day (bpd) of crude oil from the Chicago area to Cushing. The Ozark line can carry approximately 200,000 bpd from Cushing to Wood River in southern Illinois.

Springer said that the crude oil terminal at the Cushing was also closed due to power outages.

Springer said Enbridge was working with the local power company to restore power after ice storms knocked out power to more 500,000 customers.

Three oil products terminals on the Magellan pipeline were also shut Monday by the storm.

A spokesman to TEPPCO Partners LP, which operates approximately 4.5 million barrels of crude oil storage at Cushing, said its operations were unaffected by the storm.

Officials at other companies with assets at Cushing were not immediately available for comment. (Reporting by Janet McGurty and Robert Campbell, editing by Matthew Lewis)

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