Iraq pulls the plug on nationwide oil ops

A recent attack on Iraq's Basra port has led to the suspension of operations at all oil terminals across the country, following the death of at least one individual. The incident, described by Farhan al-Fartousi, the director-general of the General Company for Ports of Iraq, occurred in a ship-to-ship transfer area, although the specific nature of the attack—whether involving a drone or missile—remains uncertain. In addition to the fatality, rescuers were able to assist 38 other people affected by the incident. While the oil terminals are currently closed, commercial ports in Iraq continue to operate. This incident is part of a broader trend of escalating attacks on oil infrastructure amidst ongoing regional tensions, particularly related to the ongoing conflict in Iran. The halt in oil operations could have significant implications for Iraq's economy, which heavily relies on oil exports, highlighting the precarious situation facing the country amid these security challenges.