Saturday, March 3, 2012

Oil Prices Jumps $4 in Asian Trading

Oil prices jumped more than $4 Thursday after a fire erupted at a pipeline carrying crude oil from Canada to the U.S. Midwest, rebounding from the previous day's plunge.

The fire late Wednesday along the Enbridge Energy pipeline in northern Minnesota killed two workers who were repairing it, authorities said. It wasn't immediately clear how the fire and the shutdown of five pipelines would affect supplies.

Denise Hamsher, a spokeswoman for Enbridge in Houston, Texas, said because oil is stored in company stations along the line and at refineries, the pipelines could be shuttered for several days without causing disruptions in supply to the Midwest.

No comments:

Post a Comment