WTI

[Dr.Masih Rezvani + 28]

Türkiye halts oil flows to Mediterranean port after quakes

Türkiye halted crude oil flows to the Ceyhan export terminal on the Mediterranean coast as a precaution after devastating earthquakes. No leaks were detected on the pipelines feeding the port.
State pipeline operator Botas made the decision Monday morning after an earthquake in eastern Türkiye, followed hours later by several more. The quakes have killed about 1,500 people in Türkiye and Syria and damaged many buildings and infrastructure.
Crude prices rose Monday, partly due to the Ceyhan's suspension. It is a vital hub for oil sales from northern Iraq and Azerbaijan. Ceyhan's crude is mostly sent to European refineries.

The port exported more than 1 million barrels a day in January, accounting for 1% of global supplies