#crude — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #crude, aggregated by home.social.
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At current trend we are:
- Less than seven weeks from the lowest published EIA measurement back in August 1982. 🚨 Big psychological milestone, uncharted territory 🚨
- About 11 weeks from reaching the target, more than two months later than they projected.Let's assume things continue as-is: We'll reach the target in October. That's SUUUUPER inconvenient for this admin and its party, given a lot of folks have a big plans on November 3. No way they will allow an even deeper oil shock right as voters are making decisions, right? Riiiiiight?
YIKES.
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At current trend we are:
- Less than seven weeks from the lowest published EIA measurement back in August 1982. 🚨 Big psychological milestone, uncharted territory 🚨
- About 11 weeks from reaching the target, more than two months later than they projected.Let's assume things continue as-is: We'll reach the target in October. That's SUUUUPER inconvenient for this admin and its party, given a lot of folks have a big plans on November 3. No way they will allow an even deeper oil shock right as voters are making decisions, right? Riiiiiight?
YIKES.
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We started (Mar '26) at ~415MM barrels and committed to 172MM draw down landing around ~243MM barrels.
That's a ~41% reduction from already low levels. We did not recover from Biden's draw related to Russia's invasion of Ukraine, though it's been a generally downward trend since 2010-2011.
The EIA claimed (link above) the draw down would take 120 days at "planned discharge rates." We're one week's data away from 120 days and are only at 42% of target.
The target is...
-- *well below* the first (and lowest) number the EIA makes available, Aug 1982: 270MM.-- 33% of the peak from 2010-11.
-- 60% of what Biden spent over 2.5 years.
#Oil #Crude #StrategicPetroleumReserve #EIA #EnergyInformationAdministration
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We started (Mar '26) at ~415MM barrels and committed to 172MM draw down landing around ~243MM barrels.
That's a ~41% reduction from already low levels. We did not recover from Biden's draw related to Russia's invasion of Ukraine, though it's been a generally downward trend since 2010-2011.
The EIA claimed (link above) the draw down would take 120 days at "planned discharge rates." We're one week's data away from 120 days and are only at 42% of target.
The target is...
-- *well below* the first (and lowest) number the EIA makes available, Aug 1982: 270MM.-- 33% of the peak from 2010-11.
-- 60% of what Biden spent over 2.5 years.
#Oil #Crude #StrategicPetroleumReserve #EIA #EnergyInformationAdministration
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Happy Friday, folks. The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/10) at 316504* barrels of crude. This week's draw is less than half of the weekly average since the drawdown began (March 27 numbers)
We're at 95.2% of the amount the US has committed to release. Assuming we draw an average amount this week (now, for report next Friday) we've already crossed the 100% target. If today's number indicates a new normal then we have a little over a week to go.
🚨 We're very likely at an inflection point.🚨 Recall that crude peaked in late April / early May just as the release (coordinated w/ other global reserves) was getting underway. Trump's war with Iran is back at it. Even with us still tapping the SPR, crude is back up sharply. Brent, the international standard for the price of crude ~$87.47. It was $65 on July 1. And around $61 in Feb, before the war.
Have we already met 100% of the commitment? If so, are we done? Is that stoppage already reflected in today's Brent? Will we authorize more to be released? No news on this that I can find.
SPR Facts
- Lowest level since April 1983 back when we were filling it after creation.
- Reserve is at 43.5% of the 2010-2011 peak
- In under four months we've drawn down 34% of what Biden did over his 30-month draw period.
- At the this week's adjusted average, in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, back in August 1982*thousand
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Happy Friday, folks. The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/10) at 316504* barrels of crude. This week's draw is less than half of the weekly average since the drawdown began (March 27 numbers)
We're at 95.2% of the amount the US has committed to release. Assuming we draw an average amount this week (now, for report next Friday) we've already crossed the 100% target. If today's number indicates a new normal then we have a little over a week to go.
🚨 We're very likely at an inflection point.🚨 Recall that crude peaked in late April / early May just as the release (coordinated w/ other global reserves) was getting underway. Trump's war with Iran is back at it. Even with us still tapping the SPR, crude is back up sharply. Brent, the international standard for the price of crude ~$87.47. It was $65 on July 1. And around $61 in Feb, before the war.
Have we already met 100% of the commitment? If so, are we done? Is that stoppage already reflected in today's Brent? Will we authorize more to be released? No news on this that I can find.
SPR Facts
- Lowest level since April 1983 back when we were filling it after creation.
- Reserve is at 43.5% of the 2010-2011 peak
- In under four months we've drawn down 34% of what Biden did over his 30-month draw period.
- At the this week's adjusted average, in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, back in August 1982*thousand
-
Happy Friday, folks. The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/10) at 316504* barrels of crude. This week's draw is less than half of the weekly average since the drawdown began (March 27 numbers)
We're at 95.2% of the amount the US has committed to release. Assuming we draw an average amount this week (now, for report next Friday) we've already crossed the 100% target. If today's number indicates a new normal then we have a little over a week to go.
🚨 We're very likely at an inflection point.🚨 Recall that crude peaked in late April / early May just as the release (coordinated w/ other global reserves) was getting underway. Trump's war with Iran is back at it. Even with us still tapping the SPR, crude is back up sharply. Brent, the international standard for the price of crude ~$87.47. It was $65 on July 1. And around $61 in Feb, before the war.
Have we already met 100% of the commitment? If so, are we done? Is that stoppage already reflected in today's Brent? Will we authorize more to be released? No news on this that I can find.
SPR Facts
- Lowest level since April 1983 back when we were filling it after creation.
- Reserve is at 43.5% of the 2010-2011 peak
- In under four months we've drawn down 34% of what Biden did over his 30-month draw period.
- At the this week's adjusted average, in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, back in August 1982*thousand
-
Happy Friday, folks. The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/10) at 316504* barrels of crude. This week's draw is less than half of the weekly average since the drawdown began (March 27 numbers)
We're at 95.2% of the amount the US has committed to release. Assuming we draw an average amount this week (now, for report next Friday) we've already crossed the 100% target. If today's number indicates a new normal then we have a little over a week to go.
🚨 We're very likely at an inflection point.🚨 Recall that crude peaked in late April / early May just as the release (coordinated w/ other global reserves) was getting underway. Trump's war with Iran is back at it. Even with us still tapping the SPR, crude is back up sharply. Brent, the international standard for the price of crude ~$87.47. It was $65 on July 1. And around $61 in Feb, before the war.
Have we already met 100% of the commitment? If so, are we done? Is that stoppage already reflected in today's Brent? Will we authorize more to be released? No news on this that I can find.
SPR Facts
- Lowest level since April 1983 back when we were filling it after creation.
- Reserve is at 43.5% of the 2010-2011 peak
- In under four months we've drawn down 34% of what Biden did over his 30-month draw period.
- At the this week's adjusted average, in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, back in August 1982*thousand
-
Happy Friday, folks. The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/10) at 316504* barrels of crude. This week's draw is less than half of the weekly average since the drawdown began (March 27 numbers)
We're at 95.2% of the amount the US has committed to release. Assuming we draw an average amount this week (now, for report next Friday) we've already crossed the 100% target. If today's number indicates a new normal then we have a little over a week to go.
🚨 We're very likely at an inflection point.🚨 Recall that crude peaked in late April / early May just as the release (coordinated w/ other global reserves) was getting underway. Trump's war with Iran is back at it. Even with us still tapping the SPR, crude is back up sharply. Brent, the international standard for the price of crude ~$87.47. It was $65 on July 1. And around $61 in Feb, before the war.
Have we already met 100% of the commitment? If so, are we done? Is that stoppage already reflected in today's Brent? Will we authorize more to be released? No news on this that I can find.
SPR Facts
- Lowest level since April 1983 back when we were filling it after creation.
- Reserve is at 43.5% of the 2010-2011 peak
- In under four months we've drawn down 34% of what Biden did over his 30-month draw period.
- At the this week's adjusted average, in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, back in August 1982*thousand
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OPEC Cuts Demand Forecast Again as the Oil Market Starts Looking Past Hormuz
OPEC has trimmed its 2026 global oil demand growth forecast for the third straight month, even as crude…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Business #Crude #Oil #Oilprices #OPEC #StraitofHormuz
https://www.newsbeep.com/us/762139/ -
OPEC Cuts Demand Forecast Again as the Oil Market Starts Looking Past Hormuz
OPEC has trimmed its 2026 global oil demand growth forecast for the third straight month, even as crude…
#NewsBeep #News #US #USA #UnitedStates #UnitedStatesOfAmerica #Business #Crude #Oil #Oilprices #OPEC #StraitofHormuz
https://www.newsbeep.com/us/762139/ -
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https://www.europesays.com/iran/204880/ Why Renewed Iran Tensions Could Keep Fuel Prices Elevated #crude #diesel #gasoline #geopolitics #Iran #IranWar #Oil #OilPrices #refining
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https://www.europesays.com/iran/202317/ Iraqi oil supplies to US completely halt #Brazil #canada #Colombia #crude #Ecuador #Iraq #Libya #Mexico #Nigeria #Oil #SaudiArabia #TheUnitedStates #Venezuela
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The Next Bull Market Could Be Built on Inventory Replenishment
The Middle East is once again at the center of global energy markets due to the renewed military…
#NewsBeep #News #Business #CA #Canada #Crude #Irán #oil #oilinventories #OilMarkets #oilprices #SPR
https://www.newsbeep.com/ca/796642/ -
The Next Bull Market Could Be Built on Inventory Replenishment
The Middle East is once again at the center of global energy markets due to the renewed military…
#NewsBeep #News #Business #CA #Canada #Crude #Irán #oil #oilinventories #OilMarkets #oilprices #SPR
https://www.newsbeep.com/ca/796642/ -
The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/3) at 319489 barrels of crude. This week's draw is an acceleration from the week prior and roughly average since drawdown began (3/27 numbers)
We're at 92% of the amount orange fella committed to release. Which means there's a good chance we've already hit 100% this week or next will next. Good thing things are going well with Iran! Oh, wait...
- Lowest level since May 1983.
- Reserve is at 44% of the 2010-2011 peak
- In just three months we've drawn down 33% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began but with this draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982#Oil #StrategicPetroleumReserve #Crude #CrudeOil #BrentCrude
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The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/3) at 319489 barrels of crude. This week's draw is an acceleration from the week prior and roughly average since drawdown began (3/27 numbers)
We're at 92% of the amount orange fella committed to release. Which means there's a good chance we've already hit 100% this week or next will next. Good thing things are going well with Iran! Oh, wait...
- Lowest level since May 1983.
- Reserve is at 44% of the 2010-2011 peak
- In just three months we've drawn down 33% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began but with this draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982#Oil #StrategicPetroleumReserve #Crude #CrudeOil #BrentCrude
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The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/3) at 319489 barrels of crude. This week's draw is an acceleration from the week prior and roughly average since drawdown began (3/27 numbers)
We're at 92% of the amount orange fella committed to release. Which means there's a good chance we've already hit 100% this week or next will next. Good thing things are going well with Iran! Oh, wait...
- Lowest level since May 1983.
- Reserve is at 44% of the 2010-2011 peak
- In just three months we've drawn down 33% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began but with this draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982#Oil #StrategicPetroleumReserve #Crude #CrudeOil #BrentCrude
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The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/3) at 319489 barrels of crude. This week's draw is an acceleration from the week prior and roughly average since drawdown began (3/27 numbers)
We're at 92% of the amount orange fella committed to release. Which means there's a good chance we've already hit 100% this week or next will next. Good thing things are going well with Iran! Oh, wait...
- Lowest level since May 1983.
- Reserve is at 44% of the 2010-2011 peak
- In just three months we've drawn down 33% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began but with this draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982#Oil #StrategicPetroleumReserve #Crude #CrudeOil #BrentCrude
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The EIA numbers for last week have posted. The strategic petroleum reserve is (as of 7/3) at 319489 barrels of crude. This week's draw is an acceleration from the week prior and roughly average since drawdown began (3/27 numbers)
We're at 92% of the amount orange fella committed to release. Which means there's a good chance we've already hit 100% this week or next will next. Good thing things are going well with Iran! Oh, wait...
- Lowest level since May 1983.
- Reserve is at 44% of the 2010-2011 peak
- In just three months we've drawn down 33% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began but with this draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 8 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982#Oil #StrategicPetroleumReserve #Crude #CrudeOil #BrentCrude
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Fed Sees Oil Prices Cooling Despite Renewed Iran War
The Federal Reserve still thinks energy prices are headed lower even as missiles are flying again in the…
#NewsBeep #News #BreakingNews #breakingnews #Crude #Fed #Iran #iranwar #monetarypolicy #Oil #oilprices
https://www.newsbeep.com/635564/ -
https://www.europesays.com/iran/199143/ Fed Sees Oil Prices Cooling Despite Renewed Iran War #crude #Fed #Iran #IranWar #MonetaryPolicy #Oil #OilPrices
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https://www.europesays.com/iran/194592/ Iraq Oil Production Restored at West Qurna 1, North Rumaila, and Artawi After July 3 Directive – News and Statistics #Artawi #BasraOilCompany #crude #Iraq #NorthRumaila #Oil #StraitOfHormuz #tankers #TotalEnergiesSE #WestQurna1
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Russian drones and the shadow fleet
Russia likely used shadow ships to launch drones over Europe that repeatedly disrupted civilian aviation, as it monitored…
#NATO #OTAN #Europe #Europa #EU #News #Chevron #China #crude #diluent #energy #exports #Exxon #imports #Maduro #oil #oilproduction #PDVSA #petroleum #Sanctions #Trade #Trump #Venezuela #Venezuelan
https://www.europesays.com/nato/5789/ -
Russian drones and the shadow fleet
Russia likely used shadow ships to launch drones over Europe that repeatedly disrupted civilian aviation, as it monitored…
#NewsBeep #News #Headlines #chevron #China #Crude #diluent #Energy #exports #Exxon #imports #maduro #Oil #oilproduction #PDVSA #petroleum #Sanctions #Trade #Trump #Venezuela #venezuelan #World
https://www.newsbeep.com/625155/ -
Russian drones and the shadow fleet
Russia likely used shadow ships to launch drones over Europe that repeatedly disrupted civilian aviation, as it monitored…
#Europe #EU #Chevron #China #crude #diluent #Energy #Exports #Exxon #Imports #Maduro #Oil #OilProduction #PDVSA #petroleum #Sanctions #Trade #trump #Venezuela #Venezuelan
https://www.europesays.com/europe/85156/ -
Russian drones and the shadow fleet
Russia likely used shadow ships to launch drones over Europe that repeatedly disrupted civilian aviation, as it monitored…
#EuropeSays #Russia #Chevron #China #crude #diluent #Energy #Exports #Exxon #Imports #Maduro #oil #oilproduction #PDVSA #petroleum #Sanctions #Trade #trump #Venezuela #Venezuelan
https://www.europesays.com/russia/35855/ -
OK false alarm. This week's data is up. As of June 26 we're sitting at 325,655K barrels of crude in the SPR. Down another 5,536K over the past week, slightly less than the 15-week average since draw began.
- Lowest level since June 1983.
- 45% of the 2010-2011 peak
- In just three months we've drawn down 31% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began even with the straight open and draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 9 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982
The next two EIA updates on July 8 and 15 will be VERY be interesting.#Oil #Crude #CrudeOil #FossilFuel #StrategicPetroleumReserve #iranwar
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OK false alarm. This week's data is up. As of June 26 we're sitting at 325,655K barrels of crude in the SPR. Down another 5,536K over the past week, slightly less than the 15-week average since draw began.
- Lowest level since June 1983.
- 45% of the 2010-2011 peak
- In just three months we've drawn down 31% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began even with the straight open and draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 9 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982
The next two EIA updates on July 8 and 15 will be VERY be interesting.#Oil #Crude #CrudeOil #FossilFuel #StrategicPetroleumReserve #iranwar
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OK false alarm. This week's data is up. As of June 26 we're sitting at 325,655K barrels of crude in the SPR. Down another 5,536K over the past week, slightly less than the 15-week average since draw began.
- Lowest level since June 1983.
- 45% of the 2010-2011 peak
- In just three months we've drawn down 31% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began even with the straight open and draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 9 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982
The next two EIA updates on July 8 and 15 will be VERY be interesting.#Oil #Crude #CrudeOil #FossilFuel #StrategicPetroleumReserve #iranwar
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OK false alarm. This week's data is up. As of June 26 we're sitting at 325,655K barrels of crude in the SPR. Down another 5,536K over the past week, slightly less than the 15-week average since draw began.
- Lowest level since June 1983.
- 45% of the 2010-2011 peak
- In just three months we've drawn down 31% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began even with the straight open and draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 9 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982
The next two EIA updates on July 8 and 15 will be VERY be interesting.#Oil #Crude #CrudeOil #FossilFuel #StrategicPetroleumReserve #iranwar
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OK false alarm. This week's data is up. As of June 26 we're sitting at 325,655K barrels of crude in the SPR. Down another 5,536K over the past week, slightly less than the 15-week average since draw began.
- Lowest level since June 1983.
- 45% of the 2010-2011 peak
- In just three months we've drawn down 31% of what Biden did over his 30-month period.
- Recall that crude peaked in April just as the release (coordinated w/ other global reserves) was getting underway
??? What happens if the spigot is turned off? Brent is roughly where it was when the war began even with the straight open and draw down still in play.
??? What happens if it isn't? At the current rate (average), in less than 9 weeks we'll be below the lowest level ever recorded: The first measurement available, August 1982
The next two EIA updates on July 8 and 15 will be VERY be interesting.#Oil #Crude #CrudeOil #FossilFuel #StrategicPetroleumReserve #iranwar
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https://www.europesays.com/iran/184417/ Iraq’s 14 million barrels of trapped oil travels through Strait of Hormuz #crude #gulf #Iran #Iraq #Kushner #MiddleEast #Oil #Opec #Qatar #Shipping #StraitOfHormuz #Tanker #UnitedStates #US #War #Witkoff
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https://www.europesays.com/uk/1045891/ US Crude Oil Inventories Continue To Falter, SPR Struggling To Pick Up the Slack #API #Business #crude #Distillates #downstream #Economy #gasoline #Inventories #Oil #refining #UK #UnitedKingdom
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Euro zone bond yields fall after signs of progress in US-Iran talks
Euro zone government bond yields are lower on Monday on signs that progress had been made in peace…
#Europe #EU #EuroZone #Brent #crude #EuroArea #Eurozone #Germany #IslamicRevolutionaryGuardCorps #Line4:Iran #StraitofHormuz #tehran #U.S.
https://www.europesays.com/europe/75800/ -
Iraq to export crude, naphtha through Syria after Hormuz shock
Iraq plans to export crude oil and naphtha through Syrian ports after the Iran war cut off Gulf shipping routes, with Syria expanding facilities in Baniyas to handle the shipments. #News #Reuters #Newsfeed #iraq #gulf #crude Read the story here: 👉 Subscribe: Keep up with the latest news from around the world: Follow Reuters on Facebook: Follow Reuters on X: Follow Reuters on Instagram:
https://fllics.com/en/video/iraq-to-export-crude-naphtha-through-syria-after-hormuz-shock/
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Iraq to export crude, naphtha through Syria after Hormuz shock
Iraq plans to export crude oil and naphtha through Syrian ports after the Iran war cut off Gulf shipping routes, with Syria expanding facilities in Baniyas to handle the shipments. #News #Reuters #Newsfeed #iraq #gulf #crude Read the story here: 👉 Subscribe: Keep up with the latest news from around the world: Follow Reuters on Facebook: Follow Reuters on X: Follow Reuters on Instagram:
https://fllics.com/en/video/iraq-to-export-crude-naphtha-through-syria-after-hormuz-shock/
