Midland crude for delivery in the fourth quarter is trading at the smallest discount in months in anticipation of the opening of pipelines transporting more than 2 million barrels per day from the Permian basin, the biggest U.S. oil field, traders said. Market participants bought West Texas Intermediate at Midland crude for fourth-quarter delivery for a 75 cent per barrel discount to U.S. crude futures this week, almost $5 stronger than front-month sales, traders said. As new pipelines begin operation, so-called line fill purchases later this year will “suck barrels into the Gulf,” one trader predicted. Midland crude for delivery in the fourth quarter was seen between $1.50 and 25 cents below benchmark U.S. crude futures on Friday, and last traded at a $1.10 […]