• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 8 mins Rioting and Protesting
  • 3 hours Would bashing China solve all the problems of the United States
  • 9 mins WHY was George Floyd Murdered and Why Publicly
  • 4 hours Thugs in Trumpistan
  • 5 hours Model 3 cheaper to buy than BMW 3 series.
  • 11 hours Iran's first oil tanker has arrived near Venezuela
  • 6 hours Pompeo's Hong Kong
  • 3 hours Build Back Better is the Latest Globalist Plot
  • 4 hours So the President is on that Hydroxy
  • 3 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 7 hours Obamagate Is Not a Conspiracy Theory
  • 9 hours Michael Moore's Controversial "Planet of the Humans" Movie
  • 14 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
Why The World’s Largest Asset Manager Has Seen Its Shares Soar

Why The World’s Largest Asset Manager Has Seen Its Shares Soar

Blackrock, the world’s largest asset…

Offshore Oil Is On The Brink Of Collapse

Offshore Oil Is On The Brink Of Collapse

The COVID-19 pandemic has had…

Iraq Knew The U.S. Attack Was Going To Happen

Iraq said on Wednesday that it had been notified by Iran that Tehran had launched a retaliatory strike against U.S. troops in Iraq to avenge the killing of top Iranian military commander Qassim Soleimani, while oil majors continue to evacuate personnel out of Iraq.

Amid the tension in the region, China National Petroleum Corporation (CNPC) evacuated some 20 employees from the West Qurna-1 oilfield in Iraq operated by ExxonMobil, a CNPC source based in Beijing told Reuters on Wednesday.

After the killing of Soleimani, Chevron, too, pulled all of its American oil workers out of Northern Iraq.

Late on Tuesday, which was in the early hours Iraqi time on Wednesday, Iran fired more than a dozen ballistic missiles at two bases in Iraq housing U.S. troops. Oil prices surged by 4 percent on the news, but had given up most of those gains by early morning U.S. time on Wednesday.

Oil prices had originally surged on Friday, following the assassination of Soleimani, Iran’s most powerful and visible military leader, by U.S. forces in Iraq. The attack was carried out following a direct order from U.S. President Donald Trump and was aimed at ‘deterring future attacks’ on U.S. diplomats and service members throughout the region. 

Prices also rose on Monday, but then retreated on Tuesday while the world and investors were waiting for Iran’s response.

Related: The Hottest Permian Takeover Targets For 2020

That response came late on Tuesday, with Iran notifying Iraq it would start the retaliatory strike that would be limited to the military bases. The U.S. also notified Iraq that the bases at Ain al-Asad and Irbil were under missile attacks.

Following the Iranian missile attack on U.S. bases in Iraq, U.S. President Donald Trump said “All is well! Missiles launched from Iran at two military bases located in Iraq. Assessment of casualties & damages taking place now.”

Iran’s Supreme Leader Ayatollah Khamenei said on Wednesday that “They were slapped last night, but such military actions are not enough. The corruptive presence of the US in the West Asian region must be stopped.”

Iranian Foreign Minister Javad Zarif said the attack on U.S. troops in Iraq was self-defense and that “We do not seek escalation or war, but will defend ourselves against any aggression.”  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News