"The oil pipeline linking Zubair with Fao has been bombed."
A key oil export pipeline feeding Iraq's Basra oil terminal has been damaged in a bomb attack by insurgents, an Iraqi industry source said Thursday. There were no further details and it was not immediately clear how this would affect crude oil exports from Iraq's main export terminal at Basra and the nearby Khor al-Amaya port, which accounted for some 1.6 million b/d of oil exports in February, nearly the bulk of Iraq's exported oil.

"We are tracking the situation, and that notwithstanding the ample liquidity conditions, we stand ready to provide additional liquidity if needed."
The European Central Bank said on Thursday it noted increased tension in eurozone money markets as the end of the first quarter approached, and was ready to release more cash if necessary.

Updated: March 27, 2008