Iraq plans a new pipeline through Syria to reduce reliance on Hormuz. WTI reaching $110 in July 2026 at 1.2% YES.

US imports Iraqi fuel oil via Syria for the first time. WTI reaching $110 in July 2026 at 5.7% YES.

Iraq and Syria signed a deal to rebuild the Kirkuk-Baniyas oil pipeline with 2 million bpd capacity, reducing Strait of Hormuz reliance and