Oil edged lower towards $65 a barrel on Tuesday, but remained within sight of its highest level since mid-2015, as the looming restart of a key North Sea oil pipeline offset support from OPEC-led supply cuts. The North Sea Forties pipeline, which plays an important role in the global oil market, is being tested following repairs and full flows should resume in early January, its operator Ineos said on Monday. Brent crude LCOc1, the international benchmark for oil prices, slipped 19 cents to $65.06 a barrel at 0924 GMT. Prices hit $65.83 on Dec. 12, the highest since June 2015. U.S. crude CLc1 was down 10 cents at $58.37. “The confirmation that Forties is coming back is the main development of the long weekend,” said Olivier Jakob, analyst at Petromatrix. “For sure it has the potential for capping Brent.” Trading activity was thin due to the […]