Oil gains on Forties Pipeline shutdown, New York blast (谈股论金)  469次阅读

作者: 雅歌 , 发表于: 2017-12-11 (2543天前) @ 雅歌

https://www.yahoo.com/finance/news/oil-prices-drop-increased-u-003648608.html

Business
Oil gains on Forties Pipeline shutdown, New York blast
Reuters Reuters 50 minutes ago
Reactions Sign in to like Reblog on Tumblr Share Tweet Email

FILE PHOTO - A drilling rig owned by Parsley Energy Inc. seen near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo
By Jessica Resnick-Ault

NEW YORK (Reuters) - Oil prices rose Monday, reversing earlier declines, after a North Sea pipeline shut for repairs and investors focussed on commodities following an explosion in New York.

Brent crude futures were up $1.20, or nearly 2 percent, at $64.60 by 12:22 p.m. EST (1722 GMT).

U.S. West Texas Intermediate (WTI) crude futures were at $57.87 a barrel, 51 cents or 0.9 percent above their last settlement.

The difference between the two benchmarks was the largest since late October, as Brent rallied after the shutdown of the pipeline that carries the largest grade of North Sea crude oil.

The pipeline, which can carry 450,000 barrels per day of Forties crude from the North Sea to the Kinneil processing terminal in Scotland, has been operating at reduced capacity for about four days before the shutdown.

“It is a supply concern not only because the pipeline transports a significant portion of North Sea crude oil output, but also because it may take weeks before the issue is resolved," said Abhishek Kumar, Senior Energy Analyst at Interfax Energy’s Global Gas Analytics in London

The market had expected the pipeline to return to service quickly and was surprised by the extended shutdown, said John Kilduff, partner at Again Capital LLC in New York.

"It's a significant amount of crude oil in a market that has been the tightest for crude oil," Kilduff said.

Earlier in the session, both benchmarks popped higher after an explosion rocked New York's Port Authority Bus Terminal, one of the city's busiest commuter hubs.

Investors tend to head for hard-asset commodity markets like gold and silver during high-risk events, and oil can also attract investment, Kilduff said.