Sidi Kerir Oil Loading Delayed by Bad Weather

Sidi Kerir Oil Loading Delayed by Bad Weather

Oil loadings at Egypt’s port of Sidi Kerir have been delayed by bad weather, three industry sources said on Friday, contributing to lower supplies in the Mediterranean.

Kuwait and Iraq have also suffered from weather-related oil delays this week, helping crude prices to rally to the highest level this year, with Brent moving above $61 a barrel.

The oil terminal at Sidi Kerir is run by Egypt’s SUMED, and is a key transit and storage point for crude into the region.

SUMED did not immediately respond to an email seeking comment on Friday.

According to AIS Live tanker tracking on Reuters, nine oil tankers are currently waiting outside the port, including one Very Large Crude Carrier and two Suezmax vessels.

Source: Reuters


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