Economics
Oil Drops as U.S. Says Enbridge Line to Be Allowed to Restart
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Crude oil fell the most in two weeks after a federal official said Enbridge Energy Partners LP will be allowed to restart a pipeline supplying Canadian crude to the U.S. Midwest.
The Enbridge link should open by the end of the week, said Carl Griffis, Chicago-area senior engineer from the Pipeline and Hazardous Materials Safety Administration. Japan intervened in the foreign-exchange market to stem the yen’s gain to a 15-year high against the dollar. A government report showed that U.S. oil supplies fell in line with expectations last week.