Free NewsletterPro Login

Warning: Undefined variable $stocks in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: Undefined variable $funds in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472
/* the link was here */

Baghdad and Damascus Sign Pact to Reactivate Pipeline Avoiding the Hormuz Strait

Published Jul 17, 2026
[tts_player]
Share:
Summary:
  • Iraq and Syria signed an agreement on July 17, 2026, to restore a pipeline that has been shut since the 2003 U.S. invasion.
  • The route would give Iraq an alternative export corridor around the Strait of Hormuz, which saw major disruption during the U.S.-Iran war.
  • Iraq's oil production dropped from about 4.2 million barrels per day in February to 1.9 million in June.

A Pipeline With a Long History

Iraq and Syria signed an agreement on July 17, 2026 to restore an oil pipeline that was damaged during the 2003 U.S. invasion of Iraq and then closed. The U.S. Energy Information Administration states the pipeline's design allows it to move 700,000 barrels daily.

The Strait of Hormuz saw disruption to tanker traffic during the U.S.-Iran war, and Iraq, because it had few pipeline options, depended heavily on its southern port of Basra on the Persian Gulf. When that route was disrupted, it lost its primary export corridor.

The signing ceremony included top energy officials from both countries. U.S. Energy Secretary Chris Wright oversaw the signing ceremony, where Bassem Abdul Karim Nasr, chief executive of Basra Oil Company, and Youssef Qablawi, chief executive of Syrian Petroleum Company, signed the agreement. Iraqi Prime Minister Ali al-Zaidi recently visited the U.S. and met President Donald Trump.

Why Every Gulf State Wants Pipeline Options

Many Gulf nations are seeking to grow their pipeline networks to lessen reliance on the Strait of Hormuz. Saudi Arabia is considering adding 2 million barrels per day of capacity to its Red Sea pipeline, according to a Reuters report from July 7, 2026, citing people close to the matter. The UAE is building an additional pipeline that terminates at Fujairah Port along the Gulf of Oman, thereby doubling its export capacity outside the strait.

Get the market news that matters in a five-minute read with Market Briefs, our free daily newsletter

Iraq's new pipeline with Syria fits the same pattern. It would allow Iraqi oil to reach the Mediterranean coast, bypassing the Strait of Hormuz entirely.

Energy Secretary Chris Wright put a broader spin on it at the signing. "There is so much room to drive improvement in Iraq, to raise oil production, to reduce dependencies on hostile neighbors, to bring freedom, prosperity and abundant energy to the nation of Iraq," he said.

The Catch: Pipelines Are Not a Cure-All

Bob McNally, founder of energy consulting firm Rapidan Energy, points out that the real threat from Iran is not just the waterway. "The problem isn't the waterway. It's that Iran can use weapons to attack loading facilities, pumping stations, the end stations, these terminals, and the storage units of these pipelines," he said.

Historical Context and Strategic Importance

The pipeline's roots trace back to the 1980s, when it was a vital artery for Iraqi crude exports to Europe via Syria. After the 2003 U.S. invasion, damage and subsequent sanctions kept it shuttered. Its revival comes as the recent U.S.-Iran war exposed the fragility of Iraq's export infrastructure.

Missile strikes and naval skirmishes near the Strait of Hormuz crippled tanker traffic, forcing Iraq to scramble for alternatives. Reopening the pipeline not only reduces Baghdad's dependence on a single chokepoint but also strengthens its leverage against future disruptions.

Join Market Briefs, our free daily newsletter, for a quick daily rundown of the markets

Disclosure

Recent News

1 2 3 68

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

September 4, 2026
An Interest Rate Hike in 2026? The Fed Just Broke Its Own Script
  • The Federal Reserve spent a year signaling cheaper money, and its new chairman just warned that an interest rate hike may be coming instead.
  • The Fed is stuck between high inflation and a weak job market, and fixing one makes the other worse.
  • Higher rates also reprice roughly a third of America's $40 trillion national debt this year, which is why Washington wants cuts so badly.
Read More
September 3, 2026
5 Passive Income Ideas That Pay You Whether You Work or Not
  • School teaches one formula: work, earn, spend. Stop working and the money stops, so the wheel never ends.
  • Five assets pay you without your labor - dividends, rent, interest, royalties, and the things you already own.
  • $80,000 a year of cash flow takes about $1 million invested at 8%, or roughly 20 years of $1,000 a month.
Read More
September 2, 2026
The Best Way to Invest 10k: Three Options To Transform 10K into 10 Million
  • Passive investing in stocks or real estate targets around 10% a year, and time in the market matters more than the price you get in at.
  • Active investing means putting your time in alongside your money, which raises the target to roughly 20% a year and raises the risk of losing it all.
  • Investing in yourself has no ceiling, because a new skill can create a new income that no market return can match.
Read More
September 1, 2026
The Tax Write Offs the Rich Are Using in 2026 While the IRS Shrinks
  • The 2026 tax brackets landed lower than they were headed, and the standard deduction jumped from a planned $8,350 to $16,100 for single filers.
  • New write offs for overtime, tips, seniors and car loan interest are live now, and most of them are written to expire in 2028.
  • About a third of IRS auditors have been fired, and four assets do most of the work for people who want income without a matching tax bill.
Read More
August 31, 2026
America Is Running Out of Debt Buyers. Treasury Bills Are the Government's Fix
  • The government took in about $5 trillion in taxes in 2025 and spent about $7 trillion, and the national debt is now over $40 trillion.
  • Investors, banks, and foreign countries are all lending less to the U.S., so starting September 9 the government plans to sell more short-term treasury bills and use that cash to buy back its long-term debt.
  • Government interest rates set the floor for your mortgage, your car loan, and your credit card, and short-term Treasury ETFs like SGOV are one way investors are playing it.
Read More
August 23, 2026
How to Get the Most From Your Guideline 401k
  • Guideline is a company that provides low-cost 401k plans, popular with small businesses and their employees.
  • A "Guideline 401k" follows the same core rules as any 401k: tax-advantaged growth, contribution limits, and often an employer match.
  • The biggest results come from capturing the full match, choosing low-cost funds, and picking Roth or traditional to fit your situation.
Read More
August 23, 2026
Principal 401k: What to Know About Your Plan
  • Principal is one of many companies that manage workplace 401k plans, so a "Principal 401k" is simply a 401k where Principal is the provider.
  • The rules of a 401k are the same no matter who runs it: pre-tax or Roth contributions, tax-advantaged growth, and often an employer match.
  • The biggest wins come from grabbing the full match, picking low-cost funds, and knowing whether Roth or traditional fits you.
Read More
August 23, 2026
What a Tariff Dividend Means for Your Money
  • A "tariff dividend" is the idea of taking money the government collects from tariffs and paying some of it back to citizens.
  • To judge the idea, you first need to know what a tariff is: a tax on imported goods, usually paid by the companies bringing them in.
  • Tariffs ripple through prices, businesses, and your investments, so the smart move is understanding those ripples, not just the headline.
Read More
August 23, 2026
No Tax on Overtime: How Overtime Pay Is Taxed
  • "No tax on overtime" refers to a tax break that lets certain workers deduct some overtime pay, lowering the income they get taxed on.
  • A deduction does not mean overtime is truly tax-free. It means part of that pay is subtracted before your tax is figured.
  • The bigger money lesson: how you earn money changes how it is taxed, and investors often get the friendliest treatment of all.
Read More
August 23, 2026
Reading the Silver Price Forecast for 2026
  • Nobody can honestly promise a specific silver price for 2026. Any exact number is a guess, so treat forecasts as opinions, not facts.
  • Silver is unusual because it is both a precious metal and an industrial metal, so its price answers to two very different forces.
  • Instead of chasing a forecast, learn the drivers - inflation, interest rates, recession fear, and industrial demand - so you can judge any prediction yourself.
Read More
1 2 3 26
Share via
Copy link