Enbridge leak leads to oil spike

Posted Sep 10, 2010 4:34 pm.

This article is more than 5 years old.

The price of crude oil surged Friday largely on concerns about the shut down of an Enbridge pipeline in the US.

Benchmark crude jumped $2.20 to $76.45 US a barrel.

An arm of Calgary-based Enbridge closed the pipeline Thursday afternoon after it began leaking in suburban Chicago and there is no time frame for re-opening.

It feeds refineries in the Midwest US and traders are concerned about how long the supply could be disrupted.

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