Bakken crude unchanged following Casselton incident
NEW YORK - Bakken crude was unchanged in a quiet market on Tuesday, a day after a BNSF train carrying oil collided with another carrying grains in North Dakota, setting off a series of explosions and a fire.
Bakken oil for February delivery at Clearbrook, Minn., was pegged flat at a $9.50 a barrel discount to the U.S. front-month futures contract, one trader said.
A few train cars were still burning about a mile west of Casselton, North Dakota, on Tuesday afternoon, more than 24 hours after the collision.
The accident stoked concerns about the safety of oil-by-rail shipments in a state where oil companies rely on railroads to get two-thirds of their production to market.
The North Dakota oil and gas regulator expects companies to use alternative routes to ship oil to market and does not anticipate any short-term impacts on production, it said in a statement Tuesday.