Oil falls after Iraq resumes oil exports via Turkey's Ceyhan port
Source: Reuters
LONDON, March 18 (Reuters) - Oil prices fell on Wednesday after Iraq resumed crude exports via pipeline to Turkey's Mediterranean port of Ceyhan, providing hopes for some relief amid disrupted supply from Gulf producers.
With no signs of de-escalation in the Iran conflict, benchmark Brent futures prices have settled above $100 per barrel for the past four sessions.
After rising more than 3% on Tuesday, Brent futures were down 31 cents, or 0.3%, to $103.12 a barrel by 0902 GMT on Wednesday. U.S. West Texas Intermediate crude dropped $1.56, or 1.6%, to $94.65.
In Iraq, North Oil Company sources said exports had resumed via pipeline after Baghdad and the Kurdistan Regional Government (KRG) agreed on Tuesday to restart flows. Two oil officials said last week that Iraq was seeking to pump at least 100,000 barrels per day (bpd) through the port.
Read more: https://www.reuters.com/business/energy/oil-prices-drop-us-crude-inventories-show-an-increase-2026-03-18/
I don't know how much this will help reduce the pump price, but I guess every little bit helps.
= new reply since forum marked as read
N/T
