The reopening of the ports had an impact on oil prices.
One of the single buoy moorings (SBM) at Es Sidra had been closed.
After being closed due to a powerful storm that caused significant casualties in Libya, four major oil ports have now reopened, according to port agent Al Omran International Maritime Agencies on Wednesday.
On Tuesday, the eastern ports of Brega, Es Sidra, and Ras Lanuf resumed operations, and on Wednesday morning, the port of Zueitina also reopened, as reported by Al Omran.
The reopening of these ports had an impact on oil prices, which saw an increase on Wednesday. Brent crude, in particular, strengthened and approached a level not seen in around ten months, following the market’s concerns over supply disruptions caused by the port closures and production cuts by OPEC+ member countries, all in the context of the global economic outlook.
It’s worth noting that one of the single buoy moorings (SBM) at Es Sidra had been closed for maintenance the previous week due to a leak, according to information from two traders. As of now, maintenance teams are still working to repair the leak, as confirmed by a shipping source.