Alaska Pipe Closure May Draw Oman, Russia Oil to U.S.

Alaska’s pipeline closure may force U.S. West Coast refiners to purchase crude supplies from Oman and Russia to make up a shortfall in supplies, pushing Middle East benchmark prices higher, Societe Generale SA said.

The main grades to replace the lost Alaska North Slope crude oil will probably come from the two areas, Michael Wittner, a London-based analyst with Societe Generale, said in a report yesterday.