Oil tops $65, first time since 2015, on UK pipeline outage

Oil tops $65, first time since 2015, on UK pipeline outage thumbnail

LONDON: Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday as an unplanned shutdown of the UK’s biggest North Sea oil pipeline supported a market already tightened by Opec-led production cuts. The Forties oil pipeline helps set global oil prices. It was scheduled to pump 406,000 barrels per day (bpd) in December, but was shut down on Monday after cracks were found in what traders believe is the first unplanned outage for some years. Brent crude, the global benchmark, was up by 90 cents at…

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