Iraq’s Deputy high Minister and overseas Minister, Fuad Hussein (pictured), has recommended that the continuation of Israeli and Iranian army operations may result in the closure of the Strait of Hormuz, that may result in the loss of up to five million barrels in line with day of oil exports from the Gulf and Iraq.
He warned that this can force oil prices to $two hundred-three hundred in line with barrel, exacerbating the worldwide inflation crisis and negatively impacting each generating and uploading international locations, consisting of Iraq.
The Minister made his comments throughout a cellphone name with Germany’s Federal Minister for overseas Affairs, Dr. Johann Wadephul.
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