WS #12324
Seventh consecutive US strikes on Iran; IRGC claims tanker explosions in Strait of Hormuz from mines, effectively closing waterway; oil prices surge 4.5-4.6%. Iraq signs deals with Western oil firms to revive Syria pipeline bypassing Strait of Hormuz, with Chevron involved and 2 million bpd capacity, but pipelines take years.
US-Iran Conflict Escalation
Seventh consecutive US strikes on Iran; IRGC claims tanker explosions in Strait of Hormuz from mines, effectively closing waterway; oil prices surge 4.5-4.6%.
Iraq signs deals with Western oil firms to revive Syria pipeline bypassing Strait of Hormuz, with Chevron involved and 2 million bpd capacity, but pipelines take years.