3h ago•2 min read
Iraq offers May-loading crude at deep discounts for loading inside Hormuz
Summary
Why is Iraq offering steep discounts on its Basrah crude, and what does it mean for global oil?
Iraq is offering May-loading Basrah crude at deep discounts for loading inside the Strait of Hormuz. The discounts underscore mounting pressure on Iraqi crude exports - a situation that could have far-reaching effects.