Iran reopens Strait of Hormuz to Iraqi oil shipments: FT

Iran has signaled a partial easing of restrictions in the Strait of Hormuz, allowing Iraqi oil shipments to pass through the vital corridor after weeks of disruption that rattled global energy markets, the Financial Times reported Sunday. An Iraqi tanker, the Iran's selective reopening could allow millions of barrels of Iraqi crude to return to the market, potentially easing recent supply disruptions and pressure on oil prices, but practical impacts depend on shipping security and production restart speed. Restrictions caused Iraqi exports to plunge from 3.4 million barrels per day, forcing production cuts and major revenue losses, with losses reaching hundreds of millions of dollars per day during March. Risks include persistent regional tensions between Iran, the U.S., and affiliated militias, as well as ongoing security concerns for shippers transiting the strait, which may limit immediate recovery in Iraqi oil exports.