Crude Oil Declines as Trans Alaska Pipeline Restarts Operations
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Oil dropped, halting last week’s rally, as the operators of a pipeline from Alaska restored flows to the U.S., the largest crude consumer.
Futures slid as much as 0.8 percent as Alyeska Pipeline Service Co. said it had completed repairs on the Trans Alaska Pipeline System. The line carries 11 percent of U.S. crude production. Equity markets dropped in the U.S. and Europe.