Oil prices continue to rise after the closure of the Forties pipeline

© AP Photo / Hasan JamaliДобыча oil. Archival photo<img src="/wp-content/uploads/sites/5/2017/12/39d7e50dcc8794441c48cb2e33dab5fc.jpg" alt="Oil prices continue to rise after the closure of the Forties pipeline" />© AP Photo / Hasan Jamali

World oil prices continue to rise on Tuesday afternoon on the news about the closure of the Forties pipeline in the North sea, according to the auction.

As at 14.41 GMT the price of February futures for North sea petroleum mix of mark Brent have grown on 1,38%, to 65,59 dollars per barrel. The oil of this brand is trading at above $ 65 per barrel for the first time since June 24, 2015. The price of January futures on WTI increased by 0.53% to 58.30 dollars per barrel.

Investors continue to win back news about the closure of the Forties pipeline in the North sea, as it significantly reduces the level of supply in the oil market. On Monday, the pipeline operator, Apache Corp., announced that production on the Forties field was stopped due to unplanned repair part of the pipeline.

The Forties pipeline delivers black gold with 85 fields in the North sea and pumps about 450 thousand barrels per day.

«Closure of the pipeline now is a major driver (for growth in oil prices — ed.)», — the newspaper quoted The Wall Street Journal the word commodity Capital Economics analyst Tom Pugh (Tom Pugh).

At the same time, traders hardly reacted to the news from Austria. On Tuesday morning at the gas hub in Baumgarten, OMV, an explosion occurred that killed one and injured 18 people. The work hub is fully stopped. Gas control Austria E-Control announced the termination of transit gas supplies to Italy, Slovenia and Hungary. In addition, the suspension of deliveries from Slovakia to Austria.

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