{"id":13013,"date":"2011-01-10T08:42:13","date_gmt":"2011-01-10T07:42:13","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/13013\/brent-oil-price-climbs-on-latest-alaska-oil-pipeline-leak\/"},"modified":"2011-01-10T08:42:13","modified_gmt":"2011-01-10T07:42:13","slug":"brent-oil-price-climbs-on-latest-alaska-oil-pipeline-leak","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/13013\/brent-oil-price-climbs-on-latest-alaska-oil-pipeline-leak\/","title":{"rendered":"Brent oil price climbs on latest Alaska oil pipeline leak"},"content":{"rendered":"

Brent oil prices open Monday’s trading session higher, near $94 a barrel as news emerges from the US that an oil leak shut an Alaskan pipeline that carries 12 percent of US crude oil output.<\/p>\n

Latest Brent Oil Price<\/strong><\/p>\n

In London, Brent crude oil futures for February 2011 delivery was trading at $93.77 a barrel, 07.30 GMT on the ICE Futures Exchange after bouncing a dollar higher, shortly after open.<\/p>\n

Alaska Oil Pipeline Running at 5 Percent Capacity<\/strong><\/p>\n

Alyeska Pipeline Service shut down the pipeline system it operates in Alaska on Saturday after workers found oil leaking into a basement at a pump station on the North Slope. It then told BP and other oil companies in the region to reduce their output by 95 percent.<\/p>\n

This latest event may well give a short term boost to Brent and WTI oil prices, increasing the chances of oil prices making a run back to $100 a barrel.<\/p>\n

“Alot depends on how long the oil pipeline is shut down. If the oil leak can be fixed in a matter of days then it’s not really a serious problem and the market may be overreacting now.” said Victor Shum, oil analyst at Purvin & Gertz.<\/p>\n

\n
\"Digg<\/a><\/div>\n
\"Reddit<\/a><\/div>\n
\"Stumble<\/a><\/div>\n
\"Buzz<\/a><\/div>\n
\"Vote<\/a><\/div>\n
\"Share<\/a><\/div>\n
\"Bookmark<\/a><\/div>\n
\"Kick<\/a><\/div>\n
\"Shout<\/a><\/div>\n
\"Share<\/a><\/div>\n
\"Bookmark<\/a><\/div>\n
\"Post<\/a><\/div>\n
\"Google<\/a><\/div>\n<\/div>\n