Crude Up After Pipeline Shut Down

by Tim Bonett, KPI Bridge Oil
Monday December 11, 2017

A pipeline shut down in the North Sea sent crude benchmarks higher. Brent rose 2% and pulled WTI along with it up 1%.

The pipeline carries 450,000 barrels per day of crude to a processing terminal in Scotland.

It is a significant blow to production capacity in the region and could take weeks before it is fully back online.

In the US, drill rigs increased last week continuing the recent trend.

Bunker prices were firmer in the primary ports.

WTI JAN $57.99/BBL UP $0.63/BBL
Brent FEB $64.61/BBL UP $1.21/BBL