Ninth Day of Strikes at French Port

By MarEx 2012-12-14 15:46:00

For the ninth day straight, two French Mediterranean oil terminals were blocked, and several tankers and other vessels wait offshore of France’s top oil port.

The strike is slowing production at refineries, who could run out of crude by the end of the week.

The strike by CGT union at Fos-sur-Mer and Lavera terminals began September 27, after a proposed port reform to privatize unloading operations at docks previously run by the state.

CGT is planning to bring in workers from the refineries to strike with them to get this matter resolved. Union leaders from CGT and the refineries are meeting today to decide if they will join together.

Workers are seeking job guarantees as part of the port reform and are also protesting against a French pension bill.

European oil market prices have increased in the days since the strike began, with crude at $4.75 on Monday up from $3.10 on Friday. Gas and heating fuel have also increased.