Russian oil pipeline flows resume after Hungary's MOL settles transit bill

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Hungarian energy company MOL says the suspension of oil pipeline flows had happened ‘due to technical issues emerging on the banking front.’

International benchmark crude retreated on Wednesday, partly because of the Druzhba pipeline news and also because of a rise in US crude stocks.

It said in a statement the halt had happened “due to technical issues emerging on the banking front.” “I would not see any additional political context behind this because there isn’t any. Simply, there was a technical failure or incorrect assessment. Such glitches happen,” he said. Slovak pipeline operator Transpetrol said flows have already reached Slovakia but pumping further west to the Czech Republic was not planned.

 

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