Pakistan and Iraq have struck agreements with Iran to transport liquefied gas and oil via the Strait of Hormuz amid shipping risks, according to sources
Context
Pakistan and Iraq's agreements with Iran to transport liquefied gas and oil via the Strait of Hormuz highlight a strategic move amidst rising shipping risks. This could impact global energy supplies, potentially influencing prices for crude oil and gas, while also affecting currency flows related to commodity-linked currencies like the USD and JPY. Traders should watch for volatility in energy markets and related currencies as these developments unfold.
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