Iraqi official says oil ports have completely stopped operations, while commercial ports continue to operate following attack on two fuel tankers
Newsquawk Staff ·
Iraqi official says oil ports have completely stopped operations, while commercial ports continue to operate following attack on two fuel tankers.
What it means
The complete halt of operations at Iraqi oil ports due to recent attacks on fuel tankers is a significant supply-side shock that could tighten oil markets, particularly impacting WTI prices. While commercial ports remain operational, any extended disruption to oil exports from Iraq could exacerbate existing supply concerns and influence inflation expectations globally. Traders should position for potential volatility in the commodity space as this situation develops.
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
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- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
- Equinor (EQNR NO) CEO says what happens in the Middle East determines the price of oil, refined products and gas; hopes that Britain will approve the Rosebank oilfield
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