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Oil prices up slightly on pipeline outage support

“Prices have been supported by an outage on the Forties crude pipeline that was expected to last several weeks” reports foxbusiness.com. NEW YORK (Reuters) – Oil prices were up slightly on Thursday as a pipeline outage in Britain continued to lift Brent crude prices.And it’s almost surprising it’s not generating more support.” A fall in U.S. crude inventories last week also lent some support.OPEC revised its estimate for U.S. oil output growth for 2018 to 1.05 million bpd, while the U.S. Energy Information Administration increased its growth forecast to 780,000 bpd..
 
Source: foxbusiness.com



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