Sign in to follow this  
Followers 0
JA

Britain's biggest oil pipeline shut for repairs

Recommended Posts

i think it is not complete shutdown, just a reduction. Though, the size of the reduction is not clear

Share this post


Link to post
Share on other sites

well the oil prices climbed on the announcement, with Brent crude up 2% to just under $65 a barrel - a fresh two and a half year high

Share this post


Link to post
Share on other sites

This could have worldwide consequences as the Brent-WTI spread just got a lot wider

Share this post


Link to post
Share on other sites

Brent's hit it highest since 2015 over this shutdown ...

Share this post


Link to post
Share on other sites

Pipeline is a "heart" of Scotland's oil transport because it's serves 80% of Ineos refinery which cover 80% of all fuel in that country. Also, it transports 40% of the UK North's sea's oil and gas production by connecting 85 fields to the British mainland. SPNY index (Wall Street) rose 0.71 percent today as oil prices rose after a North Sea pipeline shut for repairs. If this continues, oil prices will probably again rise

Share this post


Link to post
Share on other sites

(edited)

And now to shake things up anymore, Enbridge announced a new rationing of space in its pipeline that carries Canadian heavy crude to the US. The result? Western Canadian heavy crude now trading at its biggest discount to WTI in over three years as Canadian crude builds up in Canada in its storage hubs.

So now we have Brent Crude, WTI, and Western Canadian Heavy with large disparities.

 

image.png.67dd841576c9d71dc193c63f82756b43.png

Edited by Rodent

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  
Followers 0