ALSO READBrent crude oil prices near 2015 high after North Sea pipeline shutdown Oil rises above $65 for first time since 2015 on North Sea pipeline outage Oil edges up towards $64 a barrel over North Sea pipeline outage Oil prices rise on North Sea pipeline outage, but rising US output looms Will crude oil prices moderate?
Oil edged lower towards $65 a barrel on Tuesday, but remained within sight of its highest level since mid-2015, as the looming restart of a North Sea oil pipeline offset support from Opec-led supply cuts. The North Sea Forties pipeline, which plays an important role in the global oil market, is being tested following repairs and full flows should resume in early January, its operator Ineos said on Monday.
Brent crude, the international benchmark for oil prices, slipped 15 cents to $65.10 a barrel at 1153 GMT. Prices hit $65.83 on December 12, the highest since June 2015. US crude was down 7 cents at $58.40.