Iraqi Foreign Minister says any alternative to US-Iran deal would be disastrous, and they may not be able to export their oil if war breaks out in the region

Iraqi Foreign Minister says any alternative to US-Iran deal would be disastrous, and they may not be able to export their oil if war breaks out in the region.

The remarks from the Iraqi Foreign Minister highlight the heightened geopolitical risks in the region, emphasizing that alternatives to a US-Iran deal could lead to disastrous consequences, particularly for oil exports. Should tensions escalate into conflict, we could see significant disruptions in global oil supply, which would likely drive up prices and support WTI. Traders should remain cautious and monitor regional developments closely, as the potential for volatility in commodity markets increases.