Iraq is using a huge fleet of trucks to transport fuel oil through Syria, thereby diverting exports from the Strait of Hormuz, and is rapidly transforming its neighbor Syria into the largest export hub in the Middle East. Within a few months, Syria's fuel exports soared from zero to more than a quarter of the Middle East's total exports. The supplies were transported by thousands of trucks and took about four days to reach the Syrian Mediterranean port. Iraq is seeking to consolidate its oil revenues after the closure of the Strait of Hormuz hit its finances hard. In addition to Syria, Iraq also transports trucks full of fuel oil through Jordan, and traders say that small amounts of crude oil are also trucked in the same way.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.