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    Oil Prices Drop as Iraq Signs Pipeline Export Deal



    Oil Prices Drop as Iraq Signs Pipeline Export Deal

    Oil dipped as Iraq signed a deal to resume exports via Turkey that avoids the Strait of Hormuz, and as the US stepped up efforts to force the reopening of the key waterway. Iraq agreed with Kurdistan to resume oil exports through a pipeline in the semi-autonomous region that goes to Turkey’s Mediterranean port of Ceyhan. The rerouting of the oil will only partially relieve supply concerns. Bloomberg’s Anthony di Paola reports.
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    32 Comments

    3. @I_Print_Like_J-Pow on

      So there may or may not be an extra 0.5 million barrels per day flowing out of 20. great reporting. Really "moving the markets" with that reporting on a possible developing situation. that could have impacted markets by 2.5% 18 days ago.

    6. @edwardbolton4512 on

      Hey bloomberg…it's funny how Trump is threatening Iran to blow up kharg island which would compound his stupidity exponentially. Iran would retaliate by blowing up all of the GCC oil infrastructure. Then the strait of hormuz would become useless because there will be no oil processed to ship.

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    17. @Honokaa65 on

      This is a joke. Just to manipulate the price. Anyone knows signing deal can't reduce the demand. Supply will not increased until they build the pipeline and other infrastructure. It takes time. I think Iran will agree to open the strait before infrastructure available

    19. @matteocarlodipierro9721 on

      Oil crisis underway: WTI is surging and the shock is already happening.
      WTI crude is trading around $95 per barrel, after recent spikes above $119, as tensions in the Strait of Hormuz continue. That strait carries roughly 20% of global oil supply, and current disruptions have already pushed some regional crude grades toward $150 per barrel.
      Despite claims from some officials and analysts that “everything is under control,” the facts show otherwise: prices are climbing now, supply is constrained, and market buffers are failing. Inflation, transport costs, and global economic slowdown are not potential outcomes—they are already unfolding.
      Underestimating this crisis now will only worsen the impact. Immediate diplomatic and economic action is essential.

    22. @matteocarlodipierro9721 on

      Oil market update: the data are real, the reassurances are not.
      ☑️ Trump: “If gas prices rise, they rise — this is far more important than having gasoline prices go up a little.” — In this interview, Trump downplayed energy prices, calling them secondary to the military operation. The market ignored his rhetoric and oil prices continued to climb.
      ☑️ At that time, WTI was already above $100 per barrel and reached nearly $119 when Trump called the conflict “very complete” and suggested it would only last a few weeks. Despite his optimistic words, prices did not stabilize and volatility remained high.
      ☑️ Trump: “The United States doesn’t need help in Iran.” — A recent statement as WTI rose above $96 per barrel, with the Strait of Hormuz remaining a critical bottleneck for global supply.
      ☑️ When Trump claimed the conflict could end “very soon” or that issues would be resolved quickly, oil prices fell temporarily, but only briefly. The fundamental dynamics of supply and geopolitical risk did not change.
      In other words: every time Trump issues a reassuring statement, markets react — but not based on political words, only on real data: supply constraints, Strait of Hormuz closures, and global risk.
      What we are seeing is not a “calm” market: it is a market where the WTI price rally cannot be fooled by empty words. Prices remain high, continue to price real risk, and indicate that without concrete facts, crude is likely to push toward $150 per barrel in the coming days.
      Oil doesn’t lie. Political narratives do.

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