Major Alaskan Oil Field Shutting Down

ANCHORAGE, Alaska (AP) - In a sudden blow to the nation's oil supply, half the production on Alaska's North Slope was being shut down Sunday after BP Exploration Alaska, Inc. discovered severe corrosion in a Prudhoe Bay oil transit line.

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Oil strikes $76 on BP field shutdown

SINGAPORE (Reuters) - Oil touched $76 a barrel on Monday after producer BP shut down the biggest oilfield in the United States indefinitely, while anxiety about Middle East supply continued to run high.