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Turkey Orders Resumption of Crude Flows to Ceyhan Terminal

TURKEY
  • Bloomberg report that Turkey has ordered the resumption of crude-oil flows to the Ceyhan export terminal on the Mediterranean coast, according to an official with direct knowledge of the matter. State pipeline operator Botas had halted flows to the facility as a precaution on Monday morning, after the first of two massive earthquakes shook the region. Azerbaijan uses the Turkish port of Ceyhan as its main crude export hub. The BTC terminal, which exports Azeri crude oil to international markets will resume operations on Wednesday according to officials.
  • News flow continues to be dominated by the devastating earthquake in Turkey and Syria in the early hours of Monday morning. The death toll currently stands above 4000.
  • Ekonomi report that the decision to keep trading open at Borsa Istanbul, where concrete and cement shares rose, drew ire. Some experts found it appropriate due to the need for liquidity and the risk of stronger losses.
  • Cash budget balance data is on the docket at 1130 GMT/1430 local time. There are no other major releases scheduled.

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