March 8, 2018 / 4:16 PM / 10 days ago

Colonial Pipeline to restart fuel line by end of day after leak

NEW YORK (Reuters) - Colonial Pipeline Co, the largest fuel system in the United States, said it expects to restart its line to Linden, New Jersey, and the New York Harbor by the end of Thursday after a fuel oil leak in Harford County, Maryland.

Company personnel have identified and isolated the location of the leak and were repairing facilities within the station involved, according to a statement.

Colonial Pipeline ships more than 3 million barrels per day of fuel from the Gulf Coast to the populous East Coast, and its line 3 can carry both gasoline and distillates.

News of the restart helped firm gasoline prices in the Gulf Coast, while prices in the New York Harbor area eased marginally, traders said.

Gulf Coast gasoline rose about 50-100 points from its lows on the news, one trader said. Conventional grade gasoline in the Gulf Coast slipped by 0.75 cent a gallon to trade at 18.25 cents a gallon below benchmark futures on Wednesday after the line was shut.

The company said its main gasoline and distillate lines - lines 1 and 2 - were operating normally.

There is no estimate on the amount of fuel leaked and the cause is being investigated, a spokeswoman said in a statement.

“There are no indications at this time that the product has migrated outside of our facility,” she said.

Reporting by Devika Krishna Kumar in New York, Swati Verma and Vijaykumar Vedala in Bengaluru; editing by Chizu Nomiyama and Jonathan Oatis

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