New Sanctions Heighten Tensions Between Turkey And The U.S.

Markets & Geopolitics While production was unaffected when Storm Daniel out of the Mediterranean hit land in eastern Libya, the country’s key oil export terminals were all temporarily closed last weekend amid a state of emergency. Though reopened by Tuesday and Wednesday, the closures helped put upward pressure on oil prices in combination with OPEC+ voluntary production cut extensions and indications of tighter supply and excess demand for the fourth quarter of this year. Storm Daniel wreaked havoc on the eastern port city of Derna,…