Oil treading water even as Forties pipeline system returns to life

Oil prices started the trading day Thursday in static territory after pipeline operator Ineos said restrictions on a major North Sea network were lifted. “All restrictions on the flow of oil and gas from platforms feeding into the pipeline system have been fully lifted,” the company said in a statement. “All customers and control rooms have now been informed.” The Forties pipeline system, which carries about 40 percent of the oil and natural gas produced in the North Sea, was closed Dec. 11 after a hairline crack was discovered inland near Aberdeen, Scotland. Ineos said the line is repaired and the system should be back to normal as early as next week. The price of crude oil was more or less unmoved moments […]

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