Oil prices fall as pipeline supply concerns ease

The price of oil is falling after TransCanada reaffirmed its plans to restart a pipeline this weekend that carries crude from Canada to the Midwest.

Benchmark oil dropped 47 cents Friday to $91.63 per barrel in New York.

TransCanada closed the 2,100-mile Keystone pipeline Wednesday after tests showed possible safety issues. A company spokesman says no leaks have been detected. It plans to restart the pipeline Saturday.

Oil traders largely consider the temporary closure to be a non-issue because U.S. supplies of oil are plentiful. Analysts don't expect any impact on pump prices.

AAA says the national average for gasoline fell 2 cents overnight to $3.715 per gallon. That's nearly 10 cents less than a week ago but still 24 cents more than last year at this time.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-19-Oil%20Prices/id-baf2777f76cd4f61991c20ae92816fe9

ufc on fox evans vs davis fast times at ridgemont high fast times at ridgemont high soylent green phil davis george st pierre