World oil prices rebounded strongly today after a fire struck a key pipeline linking Canada with the US, which is the biggest energy consumer in the world.
Oil futures had tumbled on Wednesday on a smaller than expected decline in US energy reserves and ahead of next week's OPEC meeting, where the 13-member producers' cartel will make a decision on its output policy.
This evening, US crude had jumped $1.80 to $92.42 a barrel. London's Brent North Sea crude surged $1.35 to $91.16.
Enbridge Inc said late on Wednesday that an explosion in the northern US state of Minnesota forced the company to shut down four pipelines.
Enbridge's oil pipeline system serves major refineries in Canada's Ontario province as well as the Great Lakes region of the US, delivering about 2.2 million barrels per day.
