Iraq, Kurdistan Regional Government strike export deal to resume oil shipments via Ceyhan
→Trading desks must reprice Brent positions immediately
Change
Iraq and the Kurdistan Regional Government have implemented an export deal to restart oil shipments through Turkey's Ceyhan port, with flows scheduled to begin at 07:00 GMT on March 18, 2026.
Why it matters
Oil prices fell after the export deal: Brent declined $2.26 to $101.16 per barrel and U.S. West Texas Intermediate fell $2.99 to $93.22. No signs of de‑escalation in the Iran conflict remain, leaving most other West Asia exports largely halted.
Implications
- — Trading desks at oil and commodity trading firms must reprice Brent-linked positions immediately — failure to do so exposes trading books to realized mark-to-market losses after prices moved on the deal.
- — Refiners' procurement teams managing crude imports routed via Ceyhan must update delivery and intake timetables immediately — failure risks receiving cargoes at unexpected times and creating operational intake mismatches.
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Source
View on The Hindu