Iraq arranges VLCC to move crude beyond Hormuz, signaling export strategy shift

Iraq's state tanker company has arranged a VLCC to carry 2 million barrels beyond the Strait of Hormuz, a first such move that suggests a strategic shift to reduce reliance on the strait amid regional tensions. The move could signal increased Iraqi crude exports via alternative routes, potentially affecting global oil supply dynamics. Details on the route and timeline remain unclear, but the development underscores growing efforts to bypass chokepoint risks.