Oil at 1-month high on closure of Canada-U.S. pipeline

SINGAPORE (BestGrowthStock) – U.S. crude rose to a one-month high near $77 on Monday after Enbridge’s biggest pipeline connecting Canadian production to refineries in the Midwest and storage in Oklahoma remained shut for a fourth day after a leak.

Enbridge’s (ENB.TO: ) Line 6A, with a capacity of 670,000 barrel per day (bpd), was still closed on Sunday as a clean up continued in Romeoville, Illinois, the company and regulators said, after a leak forced the duct’s shutdown on Thursday. There was no date set for restoring flows, Enbridge said.

U.S. crude for October delivery climbed as much as 47 cents to $76.92 a barrel, the highest price since August 12, and was up 38 cents at $76.83 at 22:41 GMT. ICE Brent rose 31 cents to $78.47.

(Reporting by Alejandro Barbajosa; Editing by Ed Davies)

Oil at 1-month high on closure of Canada-U.S. pipeline