Oil prices slipped on Thursday as a key U.S. pipeline restarted on late Wednesday.
International benchmark Brent crude was trading at $68.50 per barrel at 0640 GMT for a 1.18% decrease after closing Monday at $68.32 a barrel.
American benchmark West Texas Intermediate (WTI) was at $64.43 per barrel at the same time for a 0.74% fall after it ended the previous session at $69.32 a barrel.
The US’s largest pipeline carries 2.5 million barrels a day of diesel, gasoline and jet fuel. After ransomware hackers broke into some of its networks on last Friday, demand was curbed due to disrupted refinery production in the region.
The production decrease in some refineries that are fed from the Georgia-headquartered pipeline also forced supplier firms in the area to reduce output.
French oil giant Total announced a 225,500-barrel reduction in gasoline production at the Port Arthur refinery due to the pipeline outage.
The largest oil refinery in the US, Motiva in Port Arthur, Texas, which processes over 600,000 barrels of oil per day, halted operations due to the attack.
However, Colonial Pipeline, operator of the largest U.S. fuel pipeline, said Wednesday it is restarting operations after being shut down for five days due to a cyberattack.
The shutdown led to widespread gasoline shortages and caused temporary price spikes.
By Murat Temizer