Brent crude oil price soared a little over $67 on Tuesday for the first time since May 2015, pushed upwards by the supply disruption following an attack on the Libya's Es-Sider oil pipeline.
International benchmark Brent crude oil prices started trading at $66.25 Wednesday and currently it is around $66.24 at 08.26 GMT.
The prices, which started the day at $64.75 on Tuesday, increased to $67.03 with a rise of 3.47 percent due to the attacks on the Es-Sider pipeline in Libya.
According to the Libyan National Oil Company’s statement, the explosion blocked the transport of between 70 thousand and 100 thousand barrels per day.
Despite the tight supply in Libya, Forties pipeline, one of the major oil pipelines in the North Sea, started pumping oil in lower quantities. The incremental restart helped compress the prices lower, which otherwise would swell over $67, according to the experts.
By Firdevs Yuksel