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Firefighters battled the blaze today on the Kirkuk-Ceyhan gas pipeline in southern Turkey following an unexplained explosion at the plant.
Turkish energy operator Botas said today that the fire was completely extinguished, but did not give explanations for the causes of the explosion that contributed to the increase in energy prices.
The AFP network commented that the world is in tension over energy prices as the US Federal Reserve seeks to fight inflation by stimulating Asian energy markets.
Yesterday’s explosion in Turkey raised fuel prices even more and deliberate provocation is not ruled out.
This rise in energy prices has forced central banks to shrink the broad financial support issued for the pandemic.
Bank heads around the world are taking action but the focus is on the Federal Reserve, the central bank of the world’s largest economy.
Its leader Jerome Powell said the policies will be careful not to jeopardize economic recovery, but many fear they will become aggressive.
Commentators predict a significant rise in inflation in March, according to AFP.
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