Everyone seeing this? Oil prices spiking in Libyan pipeline explosion

[TraderTate + 186]

Brent up to $66.20 and WTI up to $59.77 after news of an explosion of a pipeline in Libya. 

[Seleskya + 50]

Just saw that. Looks like they're losing 70,000-100,000 bpd in this. It's the pipeline feeding the Es Sider terminal--one of the main terminals as far as I know. 

[Kate Turlington + 44]

Looks like still don't know (or aren't saying) who was responsible for the pipeline attack, with reports citing officials saying it was either the Benghazi Defense Brigades or ISIS. 

[TraderTate + 186]

What is the Benghazi Defense Brigade exactly?

[Kate Turlington + 44]

These are the militia guys from Misrata who were kicked out of Benghazi by the LNA's General Haftar, but they are still a force that have the potential to challenge Haftar. And since Hafter is dropping hints that he might run for elections, they are bound to step up to the plate now more aggressively. I would bet it was these militias rather than ISIS. And when media start saying that the Benghazi Defense Brigades are 'Al-Qaeda", take that with a grain of salt. They are allied with whomever suits them for the moment. I suspect they are also 'used' by other political forces in Libya when they want to challenge someone like Haftar. 

[Seleskya + 50]

Guess this helps along the Iraqi minister's statement that the oil market will rebalance by March ...

https://oilprice.com/Energy/Crude-Oil/Oil-Market-Will-Rebalance-By-March-Iraqi-Minister.html

[TraderTate + 186]

See this morning they're saying it will take at least a week to repair this, so that could take some 100,000 bpd offline for a week. Timewise, could offset the re-launch of Forties crude from the North Sea pipeline shut-in.

[LAOIL + 33]

Looks like repairs began today and some say it might be finished by Sunday ... so that oil might get back into the flow very soon. 

[Carlsbad + 19]

The pipeline has reportedly been fixed and flows are resuming. Shouldn't be long before it's back to full capacity.