Alaska’s governor says BP should pay compensation for a state employment freeze because of the millions of dollars lost through the shutdown of America’s biggest oil field.

Near-record oil prices today in the wake of an Alaskan oilfield shutdown prompted investors to sell stocks on inflation fears, one day before the Federal Reserve’s next decision on interest rates.

Oil traded near record highs today after the discovery of pipeline corrosion caused BP to close the biggest production field in the United States.