Libyan oil ports reopen after storm forced closure

Oil prices rose on Wednesday, with Brent firming around a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over the port shutdowns and OPEC+ production cuts against the global economic outlook. A single buoy mooring (SBM) at Es Sidra was shut for maintenance last week after a leak, two traders told Reuters.

Four major oil ports in Libya have reopened after shutting down on Saturday because of the powerful storm that swept the country, killing thousands of people, port agent Al Omran International Maritime Agencies said on Wednesday.

The eastern ports of Brega, Es Sidra and Ras Lanuf opened on Tuesday and the port of Zueitina opened on Wednesday morning, Al Omran said. Oil prices rose on Wednesday, with Brent firming around a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over the port shutdowns and OPEC+ production cuts against the global economic outlook.

A single buoy mooring (SBM) at Es Sidra was shut for maintenance last week after a leak, two traders told Reuters. Maintenance teams are still trying to fix the leak, a shipping source added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)