With Sunrise on the Horizon WTI In Contango as Midland Discount Collapses

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    Mark Scullion @mscullion

    Plains All American’s Sunrise Pipeline to implement two types of rates for new crude service from Midland Station in Texas to #Cushing, Okla., Nov. 1, according to #FERC filing. Non-anchor committed rate: $1.40/bbl. Uncommitted rate: $1.34/bbl – BBG


    Cleveland Fed president Loretta Mester says There is no need to panic

    She is on CNBC TV
    Other gems:

    Markets are orderly and functioning
    There are risks out there that are being reassessed
    This is a natural thing going on in financial markets

    Says that recent market volatility hasn’t changed her outlook
    Says her long-run Fed funds rate is 3%
    Long-run growth rate for US economy is about 2%

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