Breaking
"Kirkuk crude shipments from Iraq halted en route to Turkey’s port of Ceyhan"
Summary
- Crude from Kirkuk in northern Iraq was reported to have had its shipments toward Turkey’s port of Ceyhan suspended.
- The cause of the suspension and the timing of a resumption have not yet been disclosed.
- Markets are focusing on the possibility that potential supply disruptions in the Middle East could affect volatility in international oil prices.
Oil shipments from the Kirkuk oilfields in northern Iraq to Turkey have reportedly been suspended.
On the 9th, Walter Bloomberg, an overseas economic breaking-news channel, cited shipping sources as saying that “the flow of crude from Kirkuk, Iraq, to the Turkish port of Ceyhan was halted earlier today.”
However, the specific reason for the suspension and when shipments will resume have not yet been disclosed.
Meanwhile, the Kirkuk oilfields are one of the key crude-producing areas in northern Iraq. Crude produced in the region is transported via pipeline to the Mediterranean port of Ceyhan in Turkey and then exported to global markets. Market participants are watching closely as potential supply disruptions in the Middle East could affect volatility in international oil prices.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
