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North Sea pipeline closure 'could have significant impact on consumers'

Weeks-long closure after discovery of hairline crack has lead to concerns over how higher prices could affect consumers during cold snap

The closure of a major North Sea pipeline after a crack was discovered will have wide-reaching implications for the oil and gas industry, experts have said.

They said even a closure of a few weeks would have significant impacts on the industry. The price of Brent, the international benchmark, briefly rose to a two-year high of above $65 (£47) a barrel after the announcement, up from $63 at the start of the day.

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