Iraqi oil is being priced against Dubai benchmarks amid ongoing geopolitical tensions in the Gulf, including attacks in the Strait of Hormuz.

The entities involved

• Iraq →

  sovereign state in Western Asia

  • Basra hosts the Grand Faw Port project, serving as a key transit hub for trade routes connecting China and Europe.Mon 17:06
  • Oil flows through the Strait of Hormuz as geopolitical risks in the Middle East affect oil prices, with Iraq ready to resume production.Mon 16:22
• Dubai →

  most populous city in the United Arab Emirates and the capital of the Emirate of Dubai

  • The region, including Abu Dhabi and Dubai, is leveraging its strategic location to connect Africa, Europe, and Asia, driven by key leadership.Mon 14:38
  • A global summit in Dubai focused on ESG compliance, clean technology, and cross-border collaborations.Mon 14:38

Related events

• The crisis stemming from the Iran conflict and Strait of Hormuz closure is now causing major logistical problems for the global aluminum market.Jun 7
• Iran seeks control of the Strait of Hormuz while using Iraq for staging attacks against militia sites.Jul 30
• Amid heightened Iranian naval conflict in the Strait of Hormuz, Iraq is urgently planning alternative pipeline routes through Turkey and Syria.Sep 9
• Oil exports are dependent on stability through the Strait of Hormuz, which Iraq utilizes for its logistics.Jun 19
• Drone attacks from Iraq and Houthi tightening grip on Bab el-Mandeb Strait escalate Iran conflict tensions.Sep 15