Iraq and Syria agreed to restore the Kirkuk-Baniyas pipeline, reducing reliance on Hormuz. WTI reaching $110 in July 2026 at 4.9% YES.

Iraq is accelerating plans for new pipeline routes through Syria and Turkey to diversify crude exports away from the Strait of Hormuz with support from U.S. and Qatari partners.

US supports Iraq-Syria pipeline project for energy security. WTI reaching $110 by July 2026 at 5.3% YES.