Energy Flat As Pipeline Outage Buoys Oil Prices - Energy Roundup

Features Dow Jones Newswires

Shares of oil and gas companies were more or less flat as oil futures held onto most of their recent gains. One analyst said an outage in a key British pipeline would keep a floor under oil prices for as long as it lasts. "A shutdown of the...Forties pipeline, a major artery in the global oil market, caused a spike in the dated Brent market and is supporting oil products around the globe," said Phil Flynn, senior market analysts at the Price Futures Group, in a note to clients. "The pipeline system transports more than 40 percent of the U.K.'s North Sea oil production, leaving that market in a deep hole."

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

December 12, 2017 16:10 ET (21:10 GMT)