1. Iraq Slashes Basrah Crude Prices by Up to $33 Per Barrel as Hormuz Closure Cripples Export Capacity
Iraq's oil sector is offering steep discounts of up to $33.40 per barrel on Basrah crude grades that must transit the Strait of Hormuz, a move signaling the severe pressure facing OPEC's second-largest producer as Middle East hostilities have effectively closed the critical shipping corridor. The discounts underscore a...