Economic reports have revealed that Iraq has resorted to offering substantial price discounts on its seaborne oil exports, driven by escalating geopolitical tensions that are hindering navigation in international straits. Economic experts explained that the prices of Basra Medium and Heavy crudes have seen a significant drop, reaching $68 and $66 per barrel, respectively. The national oil marketing company was compelled to offer discounts exceeding $33 per barrel below benchmark prices in an attempt to maintain export flows and ease the burden on buyers facing severe shipping risks. These developments unfold amid international reports indicating that the complexities of the regional security landscape and ongoing confrontations are directly threatening the stability of global energy supplies and the revenues of exporting nations.