Oil prices dropped on Tuesday as Libyan and UK North Sea oil pipelines that suffered recent outages restarted.
The Forties pipeline system with a capacity of 450,000 barrel per day in the United Kingdom's North Sea returned to full operations on Dec. 30 after an unplanned shutdown.
Meanwhile, repairs have been finished on a Libyan oil pipeline damaged in a suspected attack last week and production is restarting gradually, according to CNBC.
The West Texas Intermediate for February Delivery lost 5 U.S. cents to settle at 60.37 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery erased 30 cents to close at 66.57 dollars a barrel on the London ICE Futures Exchange.
The Forties pipeline system with a capacity of 450,000 barrel per day in the United Kingdom's North Sea returned to full operations on Dec. 30 after an unplanned shutdown.
Meanwhile, repairs have been finished on a Libyan oil pipeline damaged in a suspected attack last week and production is restarting gradually, according to CNBC.
The West Texas Intermediate for February Delivery lost 5 U.S. cents to settle at 60.37 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery erased 30 cents to close at 66.57 dollars a barrel on the London ICE Futures Exchange.
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