Shares of oil and gas companies rose alongside oil futures as a key pipeline bringing North Sea oil to Britain remained out of service. The Forties pipeline system has been out of service since the owner Ineos discovered a crack earlier this week, pushing prices of the globally traded Brent crude futures contract to its highest level since 2015. Research firm ESAI Energy forecast that production on the Bakken Shale in North Dakota, currently above 1.1 million barrels a day, will rise another 90,000 barrels a day next year.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
December 15, 2017 16:54 ET (21:54 GMT)