Equinor and partners have resumed production at the Johan Sverdrup oilfield in the Norway North Sea after a power outage, achieving two-thirds of its capacity by mid-morning on Tuesday (19 November 2024), reported Reuters, citing a company spokesperson.

Norway's Equinor has halted output from its Johan Sverdrup oilfield, western Europe's largest, due to an onshore power outage, the company said on Monday.

WTI oil is mostly flat as traders focus on the partial restart of Norway’s Johan Sverdrup oilfield. If WTI oil manages to settle above the 50 MA at $70.63, it will head towards the resistance at $72.00 – $72.50. Brent oil is flat as traders focus on rising geopolitical tensions and falling Treasury yields.