Oil field outage in U.K. bumps prices

Oil prices jumped yesterday, following a power outage that closed the UK’s largest oil field.

By Staff | July 17, 2015 | Last updated on July 17, 2015

1 min read

Oil prices jumped yesterday, following a power outage that closed the largest oil field in the U.K., reports Reuters.

Also, new data shows there’s been “a fall in crude inventories, and strong demand from refineries in the United States […] The data suggests demand in the U.S., the world’s biggest oil consumer, [is] holding up well and still absorbing fuel at a time of ample global production.” Read more.

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