Iran Denies Attack on Lanaz Oil Refinery in Northern Iraq

Iran and allied Iraqi militia groups denied attacking the Lanaz oil refinery in northern Iraq, according to semi-official Tasnim citing an unnamed military official. The denial reduces the immediate risk of a supply disruption from that facility and should limit short-term upward pressure on oil prices, although regional tensions persist.

Analysis

Iran and allied Iraqi militia groups denied attacking the Lanaz oil refinery in northern Iraq, according to semi-official Tasnim citing an unnamed military official. The denial reduces the immediate risk of a supply disruption from that facility and should limit short-term upward pressure on oil prices, although regional tensions persist.