War fighting in Iraq and the Middle East is causing massive losses in crucial oil exports, reporting a $60 billion revenue loss.

The entities involved

• Iraq →

  sovereign state in Western Asia

  • The Iraqi Turkmen Front nominated candidates for the Kirkuk council and elected a candidate to a state minister position.13:17
  • Italian Foreign Minister Antonio Tajani met with Fuad Hussein in Rome to discuss outstanding issues between Italy and Iraq.13:13
• Middle East →

  geopolitical region encompassing Egypt and most of Western Asia, including Iran

  • Investors are monitoring Middle East developments as gold prices rise in Pakistan and MSCI removes Indonesia from key indexes.14:56
  • Israel prohibits Palestinian work in Area C while Houthis launch an attack on a government palace compound.14:25

Related events

• Strikes and attacks are causing damage to refineries and disrupting crude processing and tanker traffic in the Middle East.Sep 7
• Oil price shocks resulting from the ongoing war in the Middle East have impacted the economies of African countries, including South Africa.Jul 5
• The Gulf War, Iraq, and Vietnam are analyzed for their strategic military interventions and failures in precision warfare.Jul 19
• Ceasefire is curtailing tanker crossings, impacting the global energy market.Aug 6
• Global oil market disruptions from the Middle East conflict are impacting fuel imports through Mombasa, Kenya.Tue 21:43