Iraq's foreign ministry warns against the danger of closing the strait of hormuz and its impact on Iraq's interests, crises in energy sources, and prices.

Mar 8, 2026, 4:25:35 PM UTC(39 days ago)

Impact: Very High

Affected Assets

Iraq's foreign ministry warns against the danger of closing the strait of hormuz and its impact on Iraq's interests, crises in energy sources, and prices.
Iraq's foreign ministry warns against the potential closure of the Strait of Hormuz, citing concerns about its impact on Iraq's interests, energy sources, and prices.
The Strait of Hormuz is a critical chokepoint, with approximately 20% of global liquefied natural gas exports and a significant portion of crude oil shipments passing through it.
Tensions between Iran, the United States, and Israel have escalated, contributing to the risk of closure.
A potential closure could disrupt global energy supplies, potentially leading to price increases, as seen with recent oil price surges.
Kuwait, a major oil producer, has already cut production due to market disruptions.

IRAQ WARNS AGAINST DANGER OF STRAIT OF HORMUZ CLOSURE AND ITS IMPACT ON IRAQ'S INTERESTS, CRISES IN ENERGY SOURCES, PRICES -FOREIGN MINISTRY