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Institutional analysis: Oil prices rose to a seven-year high, and the disruption of Turkey's oil pipelines exacerbated the prospect of tight supply

author:Finance

Oil prices rose for the fourth consecutive day, hitting a seven-year high. Earlier, Turkey's state-owned pipeline operator Botas said on Tuesday that the pipeline that transported crude oil from Iraq, OPEC's second-largest producer, to Turkey's ceyhan port for export, exploded and interrupted oil shipments. The cause of the explosion is currently unknown. In addition, geopolitical issues in Russia and the UAE are increasing supply concerns. OANDA analyst Edward Moya said in a study: "OPEC+ has not met production quotas, and if geopolitical tensions continue to heat up, Brent crude may not need much of a driving factor to reach $100/b." ”

This article originated from the international derivatives think tank

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