Iraq and US Reach Deal for Oil Exports via Strait of Hormuz

The Iraqi government has reached an understanding with the United States to facilitate oil shipments through the Strait of Hormuz. The new maritime route will pass through a region near Oman. Foreign Minister Fuad Hussein confirmed the measure in a recent statement.

The initiative seeks to mitigate the historical financial impacts faced by the country. The minister cited accumulated losses of 60 billion dollars resulting from past conflicts with Iran and supply disruptions. The goal is to ensure the stability of Iraqi exports over the long term.

Energy sector data show a significant recovery in shipping volumes. In October, exports reached 3.5 million barrels per day. This figure represents a major jump compared to the 2.65 million barrels per day recorded in September.

Stable energy supplies through strategic routes may reduce volatility in global commodity prices. This scenario tends to lower the perception of geopolitical risk and influence demand for reserve assets such as the dollar and Bitcoin.