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Brent jumps to the highest level since mid-2015
Economy News _ Baghdad
Brent crude jumped 1.5 percent on Tuesday to its highest level since mid-2015 after the closure of the North Sea pipeline, which in turn cut off supplies from a market already scarce due to OPEC-led production cuts.
Brent crude was $ 65.63 a barrel at 0556 GMT, up 94 cents, or 1.5 percent, from the previous close.
This is the first time that Brent has exceeded $ 65 since June 2015.
US WTI hit $ 58.41 a barrel, up 42 cents, or 0.7 percent, on the latest settlement.
The pipeline, which transports Fortis, Britain's largest pipeline, with a capacity of 450,000 barrels per day, was closed Monday after cracks were detected.
"The market reaction shows that in the tight supply, any supply problem is quickly reflected in price rises," ANZD said.
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