WORLD OIL | The Dakota Access oil pipeline again staved off what would have been an unprecedented shutdown, with judges ruling that the Trump administration has to decide whether the conduit can operate while a more robust review is done.
Judges said Wednesday that they expect the U.S. Army Corps of Engineers to clarify in front of a federal district court whether the agency thinks the pipeline must shut after a key permit was vacated in July. The decision from the U.S. Court of Appeals for the District of Columbia Circuit buys pipeline operator Energy Transfer LP some time after the July 6 shutdown order rocked the industry.
“Despite the mixed decision from the circuit court, the impact is wholly positive for the pipeline,” said Bloomberg Intelligence analyst Brandon Barnes. Energy Transfer shares rose as much as 6.2% before paring gains to close up 3.5%.
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