U.S. oil prices hit their highest levels in more than two years on Friday after the continued shutdown of a pipeline running from Canada to the United States was expected to reduce supply into a major storage facility, APA reports quoting Reuters.
U.S. West Texas Intermediate crude futures (WTI) CLc1 settled up 93 cents, or 1.6 percent, at $58.95 a barrel.
Trading volumes were thin on Friday due to the U.S. Thanksgiving holiday.
Benchmark Brent crude LCOc1 rose 31 cents, or 0.49 percent, to settle at $63.86 a barrel.
TransCanada Corp (TRP.TO)’s 590,000 barrel-per-day Keystone pipeline, linking Alberta’s oil sands to U.S. refineries, shut on Nov. 16 after a spill was found in South Dakota.
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