Oil prices fell a fourth session this evening after US consumer confidence data showed a surprise slip and investors anticipated the re-opening of a major crude pipeline into the United States.
US consumer sentiment unexpectedly worsened in early September to its weakest level in more than a year, a survey showed. US crude fell $1.19 to $73.38 a barrel, while Brent lost $1.04 to $77.44.
Enbridge has completed repairs and received regulatory approval to restart its pipeline, which carries up to a third of Canada's US-bound crude shipments.
US crude prices spiked to a one-month high after last week's closure of Enbridge Line 6A that brings Canadian crude to US Midwest refineries and the crucial Cushing, Oklahoma, oil hub.
Oil prices fell this evening despite the potential impact from Hurricane Karl as the storm closed in for a second hit on the Mexican coast. State-run oil giant Pemex evacuated platforms and halted production at 14 minor wells, the company said in a statement that did not detail how those measures would disrupt production.
