Iraq suspended all crude oil flows after a drone hit a tanker at Basra, cutting output 60-70%. Hyperliquid oil contract volumes topped $1.2B as prices

Oil prices rose Wednesday after U.S. forces struck Tehran and Washington reinstated its naval blockade of Iranian ports near the Strait of Hormuz.

Iraq suspended all crude oil flows after a drone hit a tanker at Basra, cutting output 60-70%. Hyperliquid oil contract volumes topped $1.2B as prices

The oil tanker was towed outside the port alongside another tanker that was anchored as a precautionary measure.