Oil prices inch higher as traders eye U.S. pipeline shutdown

11 May 2021 10:44 (UTC+04:00)

By Trend

Oil prices moved slightly higher on Monday as traders assessed the impact from the closure of a vital U.S. fuel pipeline, Trend reports citing Xinhua.

The West Texas Intermediate for June delivery added 2 cents to settle at 64.92 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 4 cents to close at 68.32 dollars a barrel on the London ICE Futures Exchange.

The operator of a key U.S. fuel pipeline declared on Monday its goal of restoring operational service by the end of the week after all pipeline operations temporarily halted due to a cybersecurity attack.


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