Iraq & Phillip Nova

Iraq: Iraq approved alternative export mechanisms to bypass Hormuz, mitigating some supply disruption.

Phillip Nova: Analyst sees firm floor for oil prices but limited upside conviction.

Iraq: Prime Minister visited Tehran to mediate; border crossing with Iran was struck by US missiles.

Phillip Nova: Market analyst who noted rare risk of simultaneous disruptions.

Iraq: Iraq is the territory from which drone attacks on Gulf countries, including Saudi Arabia, Kuwait, and the UAE's Barakah nuclear power plant, originated, with Iran backing groups accused of these attacks.

Phillip Nova: Priyanka Sachdeva, a senior market analyst at Phillip Nova, provided commentary on the market's reaction to the U.S.-Iran talks.

Iraq: Iraq's Umm Qasr port was the site of an attack on an Oman Shipping Company vessel, indicating the spillover of the conflict into its territory. This highlights the broader regional instability affecting its infrastructure and trade.

Phillip Nova: Phillip Nova>>>'s senior market analyst, Priyanka Sachdeva, commented on the geopolitical risk premium reintroduced into oil markets.

Iraq: Iraq has been used as a staging ground for drone attacks on US forces and has attempted to mediate between the US and Iran.

Phillip Nova: Phillip Nova analyst commented on geopolitical risks supporting oil prices.

Iraq: Iraqi Muslim women protested against US and Israeli attacks on multiple cities across Iran.

Phillip Nova: Priyanka Sachdeva, a senior market analyst at Phillip Nova, provided commentary on the market's reaction to the U.S.-Iran talks.

Phillip Nova: Phillip Nova analysts provided commentary on the factors influencing oil prices, including discussions around easing sanctions and tapping strategic reserves.