- Global news includes the Federal Reserve raising interest rates, intense fighting in Southern Lebanon, and negotiations concerning oil movement through the Strait of Hormuz.
- Oil exports are dependent on stability through the Strait of Hormuz, which Iraq utilizes for its logistics.
Elevated risk premiums in the Hormuz Strait are driving market activity as Iraq sells Basrah crude to buyers in Northeast Asia, while Saudi Aramco markets its early-September cargoes.
1 report, 1 independent
Updated Sep 8
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What happened
Elevated risk premiums in the Hormuz Strait are driving market activity as Iraq sells Basrah crude to buyers in Northeast Asia, while Saudi Aramco markets its early-September cargoes.
Who's involved
What this event is mainly aboutKeep exploring
Part of
Oil exports are dependent on stability through the Strait of Hormuz, which Iraq utilizes for its logistics.Also in this story
- Global LNG supply is linked to the stability of the Strait of Hormuz, with oil loading monitored by Kpler and hints of a shift in the oil cartel involving Iraq.
- Iran war disrupts main Gulf oil export routes, forcing Iraq to seek alternative transit through Syrian territory and utilize SOMO for international sales.
The entities involved
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Iraq
sovereign state in Western Asia
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Hormuz
city in Hormozgan Province, Iran
- The Islamic Revolutionary Guard Corps threatened commercial shipping and directed strikes against Iranian targets in the Strait of Hormuz.
- Iran has blocked the Strait of Hormuz, while Trump has issued threats regarding infrastructure targets in the area. Houthis are also attacking shipping in the Red Sea.
Related events
- Saudi crude loadings have been halted at Hormuz due to ongoing threats from Houthi operations in the Red Sea and naval attacks reported by Reuters.
- The conflict around Hormuz is impacting Saudi Arabia and global fuel flows, forcing market adaptability in Fujairah.
- Crude oil exports are maintained through the Strait of Hormuz, with cargoes transferred off the UAE and Oman using terminals in Iraq and Bahrain.
- Indian rice exports are targeting markets in Doha, the Middle East, and Iraq.
- Kpler aggregates Middle East oil flows, showing increased transit through Hormuz from Iraq, Kuwait, UAE, Qatar, Oman, and Saudi Arabia.