# Oil jumps 5% as Caspian pipeline disruption adds to supply fears | Reuters

> Oil prices jumped 5% to over $121 a barrel on Wednesday, March 23, 2022. Disruptions to Russian and Kazakh crude exports through the Caspian Pipeline Consortium added to concerns about tight global supplies, which the article ties to sanctions on Russia.

- Date: 2022-03-23 · published 2022-03-23T12:00:00.000Z
- Category: logistics · region Caspian · magnitude medium
- Page: https://feedsoft.ai/events/8484-oil-jumps-5-as-caspian-pipeline-disruption-adds-to-supply-fears-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The CPC pipeline carries about 1.2 million barrels per day, so its outage removes a meaningful slice of supply and supports higher crude and energy prices that flow into feed costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-23 | 5 | +21.9% | 3.8 | Brent jumped 5% to over $121 on March 23 on CPC pipeline disruptions to Russian and Kazakh exports, a direct supply shock at the end of the window. |
| BRENT | 2022-03-22 | 5 | +15.1% | 3.3 | Oil jumped 5% on March 23 on Caspian Pipeline Consortium disruption, which cut Russian and Kazakh export supply; it is just after the end date but is part of the same rally. |
| WTI | 2022-03-21 | 5 | +16.7% | 3.1 | Oil jumped 5% on March 23 on Caspian Pipeline disruption, but this falls after the March 21 window end, so it only confirms the rebound's direction. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-29 | [CPC pipeline outage forces Kazakhstan to cut oil output by a fifth \| Reuters](https://feedsoft.ai/events/42430-cpc-pipeline-outage-forces-kazakhstan-to-cut-oil-output-by-a-fifth-reuters.md) | -5.0% | -8.4% |
| BRENT | 2026-03-19 | [US crude heads to Asia via Panama Canal as Iran crisis redraws trade flows \| Reuters](https://feedsoft.ai/events/16872-us-crude-heads-to-asia-via-panama-canal-as-iran-crisis-redraws-trade-flows.md) | -6.2% | -4.4% |
| BRENT | 2017-12-11 | [Brent crude oil hits 2½-year high on Forties pipeline outage](https://feedsoft.ai/events/67645-brent-crude-oil-hits-21-2-year-high-on-forties-pipeline-outage.md) | -0.2% | +8.4% |
| BRENT | 2018-11-28 | [Oil prices rise over 1% on outage in North Sea, expected OPEC supply cuts](https://feedsoft.ai/events/62234-oil-prices-rise-over-1-on-outage-in-north-sea-expected-opec-supply-cuts.md) | +2.9% | -11.2% |
| BRENT | 2022-03-18 | [Ocean Freight Rates Highest Since Nov. – AgFax - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/42191-ocean-freight-rates-highest-since-nov-agfax-supply-chain-council-of-european.md) | +10.4% | +1.1% |
| WTI | 2022-03-29 | [CPC pipeline outage forces Kazakhstan to cut oil output by a fifth \| Reuters](https://feedsoft.ai/events/42430-cpc-pipeline-outage-forces-kazakhstan-to-cut-oil-output-by-a-fifth-reuters.md) | -3.5% | -4.4% |
| WTI | 2026-03-19 | [US crude heads to Asia via Panama Canal as Iran crisis redraws trade flows \| Reuters](https://feedsoft.ai/events/16872-us-crude-heads-to-asia-via-panama-canal-as-iran-crisis-redraws-trade-flows.md) | -5.3% | -0.3% |
| WTI | 2017-12-11 | [Brent crude oil hits 2½-year high on Forties pipeline outage](https://feedsoft.ai/events/67645-brent-crude-oil-hits-21-2-year-high-on-forties-pipeline-outage.md) | +0.1% | +10.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.