Free Trial
CHINA PRESS

China Should Act Early To Avoid Balance Sheet Recession

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Oil Exports To Resume After Oil Spill At Iraqi Port Contained

OIL

The Basra Oil Company has released a statement saying that exports from the Basra port in Iraq are set to resume following the successful containment of an oil spill which shut down oil exports yesterday.

  • Jane Arraf at NYT: "Iraq's oil ministry says it has dealt with a leak at its surplus tanks in Basra loading platform and operations gradually resuming."
  • The report is likely to calm oil markets as earlier reports suggested that the spill may take a week to contain. Up to 80% of Iraq's ~4mn bpd oil exports are exported via Basra.
94 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The Basra Oil Company has released a statement saying that exports from the Basra port in Iraq are set to resume following the successful containment of an oil spill which shut down oil exports yesterday.

  • Jane Arraf at NYT: "Iraq's oil ministry says it has dealt with a leak at its surplus tanks in Basra loading platform and operations gradually resuming."
  • The report is likely to calm oil markets as earlier reports suggested that the spill may take a week to contain. Up to 80% of Iraq's ~4mn bpd oil exports are exported via Basra.