Iraq Offers Oil Outside Hormuz for First Time Since War Began

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Iraq is offering buyers of its crude the option to collect supplies from outside of the Persian Gulf for the first time since the Iran war began, highlighting resilient exports flowing through the Strait of Hormuz. The country’s state oil marketer, SOMO, is offering Basrah Medium and Heavy that can be collected by ship-to-ship transfer near the Omani coast next month via a tender, according to a document seen by Bloomberg. It’s a change of tack for Iraq, which had been offering large discounts to entice traders and refiners to load its oil deep within the gulf after the conflict started.

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