Libyan oil ports resume operations after deadly storm

Four significant oil ports in Libya have resumed operations after a temporary closure due to a powerful storm that struck the country, resulting in casualties estimated in the thousands, port agent Al Omran International Maritime Agencies said on Wednesday.

According to Al Omran, the eastern ports of Brega, Es Sidra, and Ras Lanuf were reopened on Tuesday, and the port of Zueitina resumed operations on Wednesday morning.

On Wednesday, oil prices increased, with Brent (LCOc1) stabilizing near a 10-month high reached in the previous day’s trading, as the market weighs supply concerns related to port closures and OPEC+ production reductions against the global economic outlook.

One of the single buoy moorings (SBMs) at Es Sidra was temporarily closed for maintenance last week due to a leak, as confirmed by two traders who spoke with media.

A shipping source also mentioned that maintenance crews are currently working to repair the leak.

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