• 4 minutes Phase One trade deal, for China it is all about technology war
  • 7 minutes IRAN / USA
  • 11 minutes Shale Oil Fiasco
  • 16 minutes Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 5 hours China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 5 hours Indonesia Stands Up to China. Will Japan Help?
  • 5 hours Beijing Must Face Reality That Taiwan is Independent
  • 6 hours Gravity is a scam!
  • 24 hours What's the Endgame Here?
  • 4 hours US Shale: Technology
  • 2 days 10 Rockets hit US Air Base in Iraq
  • 1 day Canada / Iran
  • 2 days Wind Turbine Blades Not Recyclable
  • 2 days Tales From The Smoke Shack and beyond.
  • 1 min Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 2 days IRAQ / USA
Alt Text

Oil Will Stay Above $50 Per Barrel In 2020

Energy markets have started the…

Alt Text

The World's Most Expensive Oil Nears $100 Per Barrel

Strong demand for heavy-sweet crude…

Alt Text

Is Iran Preparing To Send Oil Back To $100?

Brent oil prices have failed…

ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Libyan Pipeline Explosion Pushes Brent Prices Upward

After a quiet overnight session, the price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal - home of the largest oil depot in Libya - a source from the Libyan National Army told The Libya Times Tuesday. The blast happened near 30km northwest of Marada, the source said.

At the same time, the source accused militants from the Benghazi Defense Brigades of the blast. While the reasons for the explosions haven't been determined yet, media reports are suggesting that it was possibly a terrorist attack.

The media outlet added that the group had sent its forces to the explosion site, located between Es Sider port and an oil field.

While there is still no official update on what impact the explosion could have on Libyan oil output, Brent is higher about 40 cents on the news...

(Click to enlarge)

... with Bloomberg reporting that Libya's Waha output is said to drop 60-70kbpd after the explosion.

By Zerohedge.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News