WorldOil Iraq oil supplies vulnerable as Mideast tensions flare, IEA says Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned. Oil surges as Iran says it attacks Iraq base housing U.S. troops Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies. Oil buyers fear Iraqi supply hit, in spillover from Iran crisis Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers. Oil touches $70 as supply disruption fears grow Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia. Oil industry braces for more Mideast turmoil after Soleimani killing “We should all be bracing for a ferocious response,” said Helima Croft, chief commodities strategist at RBC Capital Markets. “The stage is set for a retaliatory spiral that could keep markets on edge well into 2020.” Oil soars toward $70/bbl in the wake of strike on Iran’s military leadership Brent futures surged by more than 4% in busy trading on Friday to levels not seen since the attacks on Saudi Arabia’s oil facilities in September. U.S. stock futures fall after airstrike kills Iranian commander SandP 500 Index futures contracts expiring in March retreated as much as 0.7% after the attack that killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force. Top Iranian commander killed in U.S. airstrike on Trump orders Qassem Soleimani, who led proxy militias that extended the Islamic Republic’s power across the Middle East, was killed in a strike in Baghdad authorized by Trump, the Defense Department said in a statement late Thursday night. Oil jumps after U.S. strike kills top Iranian commander in Iraq The strike killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, according to two people familiar with the matter. U.S. Defense Secretary Mark Esper said Thursday that America was ready to deploy more force in Iraq after an attack on its embassy in Baghdad this week. OPEC+ agrees to redistribute oil cuts under Saudi pressure OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.