Oil prices face potential pressure from processing cut at US refineries

Brent and WTI could slide in value now that several US refineries have revealed plans to process less crude as a consequence of the temporary shutdown of the Colonial Pipeline, reports Reuters.

Photo: Drone Base/Reuters/Ritzau Scanpix

BY RITZAU FINANS & ENERGYWATCH

Oil prices maintain level in early Tuesday trading against Monday evening but are now at risk of taking a plunge after numerous US Gulf refineries have disclosed plans to dial down on processing oil as a consequence of the east coast's refined fuel artery, the Colonial Pipeline, being temporarily shut down after being hit by a malware attack on Monday, Reuters reports.

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