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Enbridge Near Yr Highs Despite Shutting Down Two Pipelines: report

Enbridge Inc. (ENB.TO) - which is trading shy of a year high $39.20 - said it has shut down its 491,000 barrel a day Line 5 oil pipeline to repair what it termed as a small leak in Michigan, and expects to have it back in operation later on Thursday, the Globe and Mail reported.

The leak, estimated to have been less than three barrels, was discovered on Wednesday during maintenance at a site in Arenac County, Michigan, Enbridge spokeswoman Lorraine Little reportedly said in an email. Line 5 runs to Sarnia, Ontario, from Superior, Wisconsin, and is part of the company's huge export pipeline system for Canadian crude, the Globe noted.

It said the company has also shut down Line 1, a 237,000 bpd pipeline that extends to Superior from Edmonton, Alberta, due to high inventories at the end of that segment, Little said. It is expected to restart once Line 5 is back in operation.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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