Iraqi lawmaker Jamal Kocher has indicated that new US sanctions on Iran could have economic repercussions for Iraq. These sanctions risk disrupting Iraq’s energy and financial sectors due to the country’s reliance on Iranian energy imports and its oil revenues being routed through the US financial system. The market is pricing in a 2% probability of crude oil reaching a new all-time high by the end of September, reflecting uncertainty around potential supply disruptions. OPEC, the IEA, and Saudi Arabia’s Energy Ministry could play a significant role in influencing oil supply and prices.
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