Baker & O’Brien, Inc.’s 2021 Q4 PRISM™ update shows that in 2021, Q4 refinery margins held steady following a period of recovery over the first three quarters of 2021. Our Special Topic looks at the recent reversal of the U.S. Capline pipeline from Patoka, Illinois, to St. James, Louisiana. This reversal closed the door for moving coastal and waterborne-imported crude oils to the Central U.S. and opened a more direct pathway for Bakken and Canadian crude oils to flow into Louisiana and oil refineries located on the lower Mississippi River.