Britain's biggest oil pipeline shut for repairs

[JohnAtronis + 78]

http://www.nasdaq.com/article/britains-biggest-oil-pipeline-shut-for-weeks-for-repairs-20171211-00833

[Stephen + 67]

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

[Meanwhile + 49]

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

[TomTom + 183]

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

[Seleskya + 50]

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

[Pavel + 384]

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

[Rodent + 1,424]

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.

 

Edited December 12, 2017 by Rodent