Crude oil prices surged more than $4 a barrel on Thursday after an explosion killed two workers and halted the flow at the main pipeline linking Canada to the US. The pipeline provides about 1.8m barrels a day of crude oil, almost one-fifth of US imports, according to the US Department of Energy reports the Financial Times.
Nymex January West Texas Intermediate jumped to an intraday high of $95.17 a barrel and in morning trade in London was $3.78 higher at $94.39l. ICE January Brent jumped $2.32 to $91.22 a barrel. Traders said that about 600,000m b/d may return in the next three days, but warned that a further 1.2m b/d would be out of commission for the time being.
Read it here: Oil price jumps $4 after Pipeline Blast