Iraq is reportedly ready to restore oil exports to 3.4mln bpd within a week, if shipping in the Strait of Hormuz resumes
Iraq's potential restoration of oil exports to 3.4 million bpd indicates a significant supply increase that could influence global oil prices.
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Iraq is reportedly ready to restore oil exports to 3.4mln bpd within a week, if shipping in the Strait of Hormuz resumes
"A US official tells me Iran sent on Monday a 10-point response for the proposal to end the war. The U.S. official said the response was "maximalist" and unclear if it will allow moving forward to a diplomatic solution", via Axios' Ravid
Yemen's Houthis says they carried out an attack against Israel on Monday
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Should shipping in the Strait of Hormuz resume, this could ease pressure on the market and affect the balance of supply and demand, particularly for WTI crude. Traders should watch for any geopolitical developments that might impact this situation, as the Strait is a critical chokepoint for oil transport.
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