Pipeline in Alaska restarts: Oil dips

19-Jan-11

New York's main contract, light sweet crude for February delivery fell to US$91, while Brent North Sea crude for delivery in March dipped to $97.6. Crude oil futures fell on news of restart of a major pipeline in Alaska that helped restore crude-oil supplies to USA. Oil began flowing through the trans-Alaska pipeline after workers installed a pipe to bypass a leak at a pump house station on the North Slope. Alyeska Service Pipeline Co. estimates to increase the amount of oil in the 800 mile pipeline to 500,000 barrels as compared with 630,000 bpd before the leak was discovered on Jan. 8.