In the wake of a powerful storm that swept through Libya, causing thousands of casualties, the Libyan United Maritime and Logistics Services Company announced the reopening of four major oil ports that had been closed since Saturday.
The ports of Brega, Es Sider, and Ras Lanuf in the east of the country resumed operations on Tuesday, with the Zueitina port reopened on Wednesday morning.
Crude oil prices saw a surge on Wednesday, with Brent crude stabilizing at its highest level in ten months, a record set in the previous day’s trading.
Two sources told Reuters that a floating storage tank in the Es Sider port had been closed for maintenance last week, due to a leakage issue. A shipping sector source revealed that maintenance teams are still working on repairing the leak.
The storm’s impact on Libya was significant, leading to widespread damage and tragic loss of life. The reopening of these key oil ports is a positive development not only for the country, but also for the global oil market, as it has contributed to the increase in oil prices.
This swift reopening reflects the resilience of Libya’s oil industry and its commitment to meeting global energy demands.