Basra Oil Terminal Closed After Attack

Iraq?s Al-Basra Oil terminal is still closed after sea suicide bombers tried to blow up oil rigs, however it could reopen within 24 hours.

Authorities said four boats had been involved in the attack, which caused damage to one tanker berth and also cut the supply of power.

The terminal in Basra accounts for roughly 85 percent of Iraq?s total oil exports, some 1.9 million barrels per day.

The closure of the facility could seriously damage the country?s economy as it struggles with the reconstruction process.