WTI jumped a bit today on news that a major Brent oil pipeline will be taken off-line for three weeks for repairs. This is a a one-time event which may or may not amount to anything.Today, this story: Forties Pipeline system repairs scheduled to complete by Christmas, over at Rigzone.
A controlled shutdown of the FPS was implemented on December 11, after a hairline crack was found in the system at Red Moss, south of Aberdeen.
The company expects to bring the pipeline progressively back to normal rates early in the new year and has already initiated the planning phase necessary to begin recommissioning the system.Let's see: December 11 plus 21 days = January 1, 2018. It looks like they beat the deadline by about a week.