London — Oil prices jumped on Tuesday after the shutdown of a north sea pipeline knocked out significant supply from an already tightening market and while world stocks took a break from a three-day rally. Brent crude futures, the international benchmark for oil prices, rose above $65 a barrel — their highest since mid-2015 — after Britain’s Forties pipeline was shut due to cracks as a cold snap swept the country. "The market reaction shows that in a tight market, any supply issue will quickly be reflected in higher prices," ANZ bank said. Analysts also said the pipeline is a significant component underpinning the Brent benchmark. US crude oil futures rose nearly 1% to $58.51 a barrel. The jump in Brent prices widened its premium to West Texas Intermediate (WTI) prices to as much as more than $7 a barrel, the highest premium since May 2015 and up from about $5 last week, making US oil exports more attractive. The MSCI index of world equities, which tracks stocks across 47 countries,...
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