Crude oil rises on effect of Turkey earthquake

Crude oil rises on effect of Turkey earthquake

by admin- Wednesday, February 8th, 2023 07:27:15 AM

Tremor brings to halt exports of oil from Ceyhan oil terminal
Crude oil traded higher on Tuesday morning as Monday’s earthquake led to the halting of export operations at one of the oil terminals in Turkey.

Ships Azeri crude oil
With Turkey witnessing a first-rate earthquake on Monday, the Ceyhan oil terminal in Turkey with a capability to export 1 million barrels in keeping with day stopped its operation. The market turned into knowledgeable that the terminal can be closed at some point of February 6-eight. This terminal exports Azeri crude oil to the worldwide market.
According to reviews, Kurdistan Regional Government in Iraq additionally stopped oil deliver via the pipeline that runs from Iraq’s northern Kirkuk fields to Ceyhan following this most important earthquake.

Added to this, the International Energy Agency’s (IEA) optimism that economic healing in China will assist enhance call for f

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