UK’s Brent Oil Fields Halt Output Due To Terminal Closure

North Sea oil fields connected to the Brent oil pipeline have stopped production due to a shutdown at the U.K.’s Sullom Voe oil terminal, the Brent pipeline operator said, reducing output of the crude which helps underpin a global pricing benchmark.

The Brent stream is scheduled to load almost 100,000 barrels per day (bbl/d) of crude in May and is usually the smallest of five crude grades that underpin the Brent benchmark, which is used to set prices worldwide.