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. OIL MARKET: Iraq-Turkey oil pipeline halted after explosion and fire, says a Turkish state-owned operator Botas. The line usually carries >450kb/d from northern Iraq into the Mediterranean port of Ceyhan | #OOTT Botas statement: https://t.co/kmwppy0yWJpic.twitter.com/GCOZFxb2rF — Javier Blas (@JavierBlas) January 18, 2022 Little is known about the cause,
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