* Chevron shuts Gulf of Mexico platform - regulators
* Alaska pipeline expected to restart this week-source
* Brent premium over U.S. crude widens to 23-month high
* Coming Up: API U.S. oil inventory report; 2130 GMT
(Recasts, updates prices and market activity, changes
byline and moves dateline from previous LONDON)
By Robert Gibbons
NEW YORK, Jan 11 (Reuters) - U.S. oil prices rose sharply
on Tuesday as a shut production platform in the Gulf of Mexico
curbed more supply on top of the shut Alaska crude pipeline
still keeping more than half a million barrels per day of
output offline.
Chevron <CVX.N> shut in a platform on Eugene Island Block
in the U.S. Gulf of Mexico after an upset on the structure on
Monday, according to a filing with regulators. []
The Trans Alaska Pipeline System's main oil pipeline
remained closed but was still expected to restart this week
after a spill on Saturday forced it to shut down, according to
a source familiar with its operations. []
Forecasts for below normal temperatures and above normal
heating oil demand in the United States sent U.S. heating oil
futures <HOc1> to a 28-month high. []
U.S. crude oil for February delivery <CLc1> rose $1.70, or
1.9 percent, to $90.95 a barrel at 11:50 a.m. EST (1650 GMT),
having reached $91.20.
In London, ICE Brent crude for February <LCOc1> rose $1.88
to $97.58 a barrel, having traded as high as $97.75.
The premium for London's ICE Brent crude over the U.S.
light sweet crude benchmark, West Texas Intermediate, jumped as
above $7 a barrel on Tuesday, pushing the spread <CL-LCO1=R> to
its widest since February 2009.
Brent has traded above U.S. crude since August last year,
supported by a combination of dwindling North Sea crude
supplies and disruption of oil grades priced off it.
Traders said if the disruption to the Alaskan pipeline
lingers, it could result in shifting crude supplies priced off
Brent to the U.S. West Coast.
"There is the possibility the pipeline will resume
operations pretty soon, in fact 3-5 days from now, but if it
doesn't, it will have a strong impact on the market," said
Christophe Barret, global oil analyst at Credit Agricole.
"If the pipeline doesn't restart, the need to find other
sources will impact crude oil prices in the Middle East."
Barret said the wide Brent/U.S. crude oil futures spread
was due to a combination of high U.S. oil stocks, maintenance
work in the North Sea and some speculative trading in Brent.
The problems with the Alaskan pipeline had added to the
strength.
U.S. OIL INVENTORIES
U.S. crude oil inventories probably rose by 400,000 barrels
last week as imports rebounded, in what would be the first gain
in six weeks, according to a preliminary Reuters poll before
the release of weekly inventory reports. []
Industry group the American Petroleum Institute will
publish inventory statistics at 4:30 p.m. EST (2130 GMT) on
Tuesday, while the U.S. Energy Information Administration will
follow with government figures on Wednesday at 10:30 a.m. EST
(1530 GMT).
Distillate stocks, which include heating oil and diesel
fuel, were forecast to have increased 1.3 million barrels for
their third straight weekly gain, while gasoline stocks
probably rose 2.8 million barrels, the survey showed.
(Additional reporting by Gene Ramos in New York, Christopher
Johnson and Jessica Donati in London and Alejandro Barbajosa in
Singapore; Editing by Marguerita Choy)
