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BKEPP - Blue Knight Energy Partners' Oil Storage Assets Set To Benefit From Contango
Blueknight Energy Partners L.P. Series A Preferred Units
We are seeing once in a decade spike in demand for oil storage as oil prices are expected to rise steeply over 1-12 months based on the current futures curve. Blue Knight Energy Partners (BKEP) (BKEPP) owns 6.6M barrels of oil storage capacity. In Q1 2009, they saw economic benefits from oil price contango. This may happen again, and the boost could prove material to earnings. Even without such a boost, BKEP is fairly valued today limiting downside risk and, in addition, its asphalt assets may benefit from infrastructure spending should an infrastructure