{"id":61548,"date":"2022-01-18T19:40:29","date_gmt":"2022-01-19T00:40:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61548"},"modified":"2022-01-19T08:07:23","modified_gmt":"2022-01-19T13:07:23","slug":"61548","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61548","title":{"rendered":"Oil Spikes To Fresh 7-Year High After Key Iraq-Turkey Pipeline Explosion"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/energy\/oil-spikes-fresh-7-year-high-after-key-iraq-turkey-pipeline-explosion\">Oil Spikes To Fresh 7-Year High After Key Iraq-Turkey Pipeline Explosion<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>Despite dollar strength today (and more worrisome ZeroCOVID actions from China), oil prices continued to rise but news after-hours that an explosion knocked out a major pipeline sparked more upside.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1483566903176146950&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fenergy%2Foil-spikes-fresh-7-year-high-after-key-iraq-turkey-pipeline-explosion&amp;sessionId=53d0aff390e26d0e791f7b9e66889304ded51920&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=86e9194f%3A1641882287124&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1483566903176146950\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p><strong>Little is known about the cause<\/strong>, but the explosion at a pipeline connecting Northern Iraq and the port of Ceyhan in the Mediterranean has\u00a0<strong>taken 450kb\/d of supply offline in an already very tight crude oil market<\/strong>.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2022-01-18_16-11-52.jpg?itok=Ad6cqOw7\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2022-01-18_16-11-52.jpg?itok=Ad6cqOw7\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2022-01-18_16-11-52.jpg?itok=Ad6cqOw7\" alt=\"\" width=\"500\" height=\"273\" data-entity-type=\"file\" data-entity-uuid=\"57133eb2-e60e-4ec6-bf09-168849ffc914\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><strong>The pipelines have been halted before<\/strong>: Back in 2012 blasts blamed on saboteurs halted the link for several months.<\/p>\n<p>The headlines sent oil prices spiking with\u00a0<strong>WTI topping $86 for the first time since Oct 2014<\/strong>\u00a0(Brent neared $89)&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2022-01-18_16-05-01.jpg?itok=fa7tcQS-\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2022-01-18_16-05-01.jpg?itok=fa7tcQS-\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2022-01-18_16-05-01.jpg?itok=fa7tcQS-\" alt=\"\" width=\"500\" height=\"270\" data-entity-type=\"file\" data-entity-uuid=\"e422164a-1993-4b6b-80e9-07f60bc16954\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>This news<strong>\u00a0follows a ballistic missile attack over the weekend<\/strong>, where\u00a0<a href=\"https:\/\/cms.zerohedge.com\/geopolitical\/multiple-dead-uae-tanker-explosion-attack-claimed-yemens-houthis\">Iranian-backed Houthi rebels in Yemen\u00a0<strong>targeted oil infrastructure in the UAE<\/strong><\/a>.<\/p>\n<p><a href=\"https:\/\/botas.gov.tr\/uploads\/dosyaYoneticisi\/566108-18.01.2022-tarihli-botas-2.basin-aciklamasi.pdf\">Pipeline operator Botas<\/a>\u00a0said\u00a0<strong>the fire has been brought under control and cooling operations were under way<\/strong>.<\/p>\n<p>Botas said the it would reopen once the \u201cnecessary measures\u201d had been taken, but gave no indication of timing.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil Spikes To Fresh 7-Year High After Key Iraq-Turkey Pipeline Explosion Despite dollar strength today (and more worrisome ZeroCOVID actions from China), oil prices continued to rise but news after-hours that an explosion knocked out a major pipeline sparked more upside. Little is known about the cause, but the explosion at a pipeline connecting Northern [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[10827,32510,32509,441,442,588,592,818,3217,2428,901],"class_list":["post-61548","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-ceyhan","tag-crude-oil-market","tag-houthi-rebels-zerohedge","tag-iran","tag-iraq","tag-oil","tag-oil-price","tag-turkey","tag-uae","tag-united-arab-emirates","tag-yemen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61548"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61548\/revisions"}],"predecessor-version":[{"id":61554,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61548\/revisions\/61554"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}