WTI gains 2.5% on Keystone pipeline outage

TC Energy, operator of the Keystone oil pipeline linking Canada and the United States, said it is actively working to resolve an issue that led to a leak at a major North American oil pipeline. TC Energy had to perform an emergency shutdown of the system that has a transfer capacity of 622 thousand barrels of oil per day. No timing for restart of the system was provided in TC Energy's statement. Oil gained on the news with WTI painting a daily high slightly below $75 per barrel, or a gain of around 3% on the day. Part of the move was erased already and the North American oil benchmark is now trading around 2.5% higher on the day.

WTI (OIL.WTI) gains on news of Keystone pipeline shutdown. Price attempts to bounce off the $72 support zone. While the oil benchmark trades 2.5% higher on the day, this gain looks rather small compared to recent sell-off. Source: xStation5