Daily Market Updates: Iraq and Syria sign deal to restore oil pipeline

Commodities

Home›Commodities›Energy›Iraq and Syria sign deal to restore oil pipeline

Iraq and Syria sign deal to restore oil pipeline

The pipeline is intended to create an additional route for oil supplies that could reduce reliance on the Strait of Hormuz.

Reported · Written up by our desk · Energy

Iraq and Syria have signed an agreement aimed at restoring an oil pipeline, a move described as an alternative supply route to the Strait of Hormuz.

CNBC Markets reports that Iraqi Prime Minister Ali al-Zaidi is in the United States this week and met with President Donald Trump at the White House on Tuesday, ahead of the pipeline announcement.

CNBC World carried the same development, tying the deal to efforts to diversify how oil can be transported.

← Newer storyColumbia University buys student housing property in Morningside for…Older story →Magnitude 7.3 earthquake off Mexico triggers tsunami warnings

More like this

CommoditiesIran-linked attacks leave crude tanker with fatal incident near Oman

CommoditiesIranian forces target a ship attempting to pass through the Strait of Hormuz

CommoditiesConocoPhillips to buy 42% stake in BP’s Kirkuk oilfield subsidiary

CommoditiesUS active oil and gas rig count rises to 588 as Brent jumps

CommoditiesBaker Hughes oil rig count rises to 452 in weekly data

Sources

CNBC MarketsIraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz

CNBC WorldIraq and Syria sign agreement to restore oil pipeline that would provide alternative to Strait of Hormuz

Commodities

Iraq and Syria sign deal to restore oil pipeline

More like this

Sources

Get the close, explained.