Oil swings as part of key European pipeline is shut due to leak

​Oil switched between gains and losses after a leg of a vital crude pipeline from Russia to Germany was halted due to a leak.

Brent futures erased an earlier decline to rally above US$95, before trading little changed. Polish authorities are probing the cause of a leak on a section of the Druzhba pipeline -- Europe’s largest crude oil conduit. A Polish government official said the leak was probably caused by an accident and that there was no reason to think sabotage was involved.

Refiner PKN Orlen said deliveries to its Polish refineries had not been disrupted by the outage. Russia’s Transneft said flows to Poland are continuing.