Crude prices ended slightly higher Thursday after rebounding as high as 95.17 U.S. dollars a barrel as a fire at a pipeline serving the Midwest raised new supply concerns.
The fire late Wednesday along the Enbridge Energy Partners LP Lakehead pipeline in northern Minnesota, which carries crude oil from Saskatchewan to the Chicago area, killed two repair workers.
Most of the pipeline was quickly returned to service and the fire-damaged section was expected to be back up in days.
An offer by the government to release oil from the Strategic Petroleum Reserve, if needed, helped calm markets.
Light, sweet crude for January delivery rose 39 cents to 91.01 dollars a barrel on the New York Mercantile Exchange.
In London, January Brent crude rose 41 cents to 90.22 dollars a barrel on the ICE futures exchange.
Crude prices have declined 7 dollars since Friday amid expectations that the Organization of Petroleum Exporting Countries may increase output and U.S. demand would decrease due to economic problems.
Source: Xinhua
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