{"id":59888,"date":"2026-03-17T18:38:31","date_gmt":"2026-03-17T22:38:31","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/crude-slumps-to-95-as-iraq-reopens-pipeline-amid-escalating-iran-conflict\/59888\/"},"modified":"2026-03-17T18:38:31","modified_gmt":"2026-03-17T22:38:31","slug":"crude-slumps-to-95-as-iraq-reopens-pipeline-amid-escalating-iran-conflict","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crude-slumps-to-95-as-iraq-reopens-pipeline-amid-escalating-iran-conflict\/59888\/","title":{"rendered":"Crude Slumps to $95 as Iraq Reopens Pipeline Amid Escalating Iran Conflict"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. Crude prices dropped over 1.2% to $95.05\/bbl<\/strong> as supply concerns eased following news that Iraq will resume oil pumping through Turkey\u2019s <strong>Ceyhan port<\/strong>.<\/li>\n<li><strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> and <strong>LG Energy Solution<\/strong> announced a <strong>$4.3 billion<\/strong> investment to build a new battery manufacturing plant in Lansing, Michigan, targeting <strong>Megapack 3<\/strong> production.<\/li>\n<li><strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> intensified pressure on <strong>NATO<\/strong> allies to secure the <strong>Strait of Hormuz<\/strong>, characterizing recent military strikes in Iran as a successful two-week &quot;excursion.&quot;<\/li>\n<li><strong>Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>)<\/strong> is planning a drastic reduction in its use of the <strong>U.S. Postal Service<\/strong>, aiming to cut package volumes by at least <strong>two-thirds<\/strong> by this fall.<\/li>\n<li>The <strong>Pentagon<\/strong> is moving toward mass production of the <strong>LUCAS<\/strong> attack drone, a low-cost system that saw significant deployment during the recent hostilities with Iran.<\/li>\n<\/ul>\n<h2>Energy Markets and Supply Chains<\/h2>\n<p><strong>U.S. Crude<\/strong> futures retreated on Tuesday, falling more than <strong>1.2%<\/strong> to settle at <strong>$95.05\/bbl<\/strong>. The price decline comes as the Iraqi Oil Minister confirmed that oil pumping from the <strong>Ceyhan port<\/strong> in Turkey is scheduled to resume Wednesday at 10:00 AM, providing a critical alternative export route that bypasses the Kurdistan region.<\/p>\n<p>In South America, <strong>Ecopetrol (<a href=\"\/stock\/EC\">EC<\/a>)<\/strong> and <strong>Gran Tierra Energy (<a href=\"\/stock\/GTE\">GTE<\/a>)<\/strong> signed a strategic agreement to accelerate the development of the <strong>Tisquirama block<\/strong> in Colombia. Under the deal, <strong>Gran Tierra Energy (<a href=\"\/stock\/GTE\">GTE<\/a>)<\/strong> will earn a <strong>49% working interest<\/strong> in the fields, leveraging its waterflood expertise to boost recovery factors in the Middle Magdalena Valley.<\/p>\n<p>Meanwhile, <strong>Woodside Energy (<a href=\"\/stock\/WDS\">WDS<\/a>)<\/strong> has named <strong>Liz Westcott<\/strong> as its new CEO and Managing Director. The leadership change comes at a volatile time for the energy sector as global firms navigate shifting trade routes and regional instabilities.<\/p>\n<h2>Geopolitical Tensions and Defense<\/h2>\n<p>The <strong>Pentagon<\/strong> has announced plans for the mass production of the <strong>LUCAS<\/strong> attack drone, a &quot;kamikaze&quot; system that was fast-tracked for the <strong>Iran conflict<\/strong>. Defense officials noted that the drone, which was reverse-engineered from existing low-cost technology, proved highly effective in the recent &quot;excursion&quot; into Iranian territory.<\/p>\n<p><strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> reiterated on Tuesday that the U.S. military actions over the past two weeks were a necessary intervention, while simultaneously pressing allies for specific pledges to protect the <strong>Strait of Hormuz<\/strong>. In a series of statements, the President warned that a failure by <strong>NATO<\/strong> members to contribute warships to the region would be &quot;very bad&quot; for the future of the alliance.<\/p>\n<p>Security concerns in the region remain high as the <strong>Bahrain Interior Ministry<\/strong> reported sirens sounding in the capital. Additionally, a <strong>U.S. Carrier<\/strong> involved in the recent fighting is reportedly returning to port for repairs following a fire on board, though the extent of the damage has not been fully disclosed.<\/p>\n<h2>Corporate Strategy and Global Economy<\/h2>\n<p><strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> and <strong>LG<\/strong> are moving forward with a <strong>$4.3 billion<\/strong> battery plant in Michigan, a move seen as a major step toward securing domestic supply chains for energy storage. The facility is expected to begin producing lithium iron phosphate (LFP) cells by 2027 to support <strong>Tesla&#39;s (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> growing energy division.<\/p>\n<p>In the retail sector, <strong>Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>)<\/strong> is shifting its logistics strategy away from the <strong>U.S. Postal Service<\/strong>. The e-commerce giant intends to cut its postal shipping volume by two-thirds as it expands its own &quot;last-mile&quot; delivery network and introduces new 1-hour and 3-hour delivery options in major U.S. cities.<\/p>\n<p>On the macroeconomic front, <strong>New Zealand<\/strong> reported a wider-than-expected current account deficit for Q4, reaching <strong>NZ$ -5.984 billion<\/strong>. The deficit, which stands at <strong>3.7% of GDP<\/strong>, exceeded analyst estimates of <strong>3.5%<\/strong>, reflecting ongoing pressure on the nation&#39;s trade balance amid global economic shifts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. Crude prices dropped over 1.2% to $95.05\/bbl as supply concerns eased following news that Iraq will resume 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