Skip to content
Back to Guavy Wire
Commodities

Middle East Tensions Soar as Iraq Ships Oil Through Strait of Hormuz Amid Escalating Conflict

Instruments
Oil
Share

The ongoing conflict in the Middle East has taken another turn as Iraq transported 2 million barrels of crude oil through the Strait of Hormuz, a strategic waterway that connects the Persian Gulf to the Gulf of Oman. This move comes amidst escalating tensions between Iran, Israel, and their allies.

The Houthis, an Iranian-backed militia in Yemen, claimed responsibility for attacking an Aramco facility near Riyadh, but neither Saudi Arabia nor Aramco has confirmed the incident. Meanwhile, Saudi warplanes launched 26 attacks on Sanaa, according to the Houthi-affiliated news channel Al-Masirah.

The conflict is also affecting civilians and security in the region, with reports of attacks on Palestinian olive pickers and destruction of olive trees in the occupied West Bank. Additionally, Yemen is facing a growing humanitarian crisis, with over 18 million people struggling to access food and nearly 2.2 million children suffering from acute malnutrition.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc