Oil fell to a one-month low below $90 a barrel today as attention returned to next week's Opec meeting that is expected to boost output.
US crude fell $1.11 to $89.90 a barrel, off lows of $89.52, a level not seen since October 31st. It had settled up 39 cents at $91.01 a barrel yesterday after reaching as high as $95.17 earlier in the day.
Brent crude was $1.26 down at $88.96 a barrel.
An explosion along the Enbridge Pipeline, which supplies more than 10 per cent of US crude imports, killed two workers and choked off crude flows on Wednesday.
But the operator said yesterday that three of the four pipelines shut had already been restarted, and that the remaining line could return to service within a few days, easing concerns of a severe supply disruption.
The US Department of Energy said it was prepared to open up the emergency crude stockpile to compensate for the disruption, but had yet to receive any requests.
Traders said the market had by and large shrugged off the Enbridge impact, and the market's focus had returned to the Opec meeting in Abu Dhabi on December 5th.
Some Opec members favour an output increase, and the oil market is also betting the exporter group could decide to boost output by 500,0000 barrels per day.