No oil, no salary: Iraqi state employees are feeling the crunch of the Hormuz blockade

"In price, is knowledge," is an old market saying. So what is the oil price telling us? At less than $90 a barrel, it isn’t screaming shortage. How so amid the Iran war? The release of strategic reserves is helping, as are bypass pipelines around the Strait of Hormuz. China has…

Because of the blockage of the Strait of Hormuz, Iraq cannot export enough oil to fund the country's huge public sector. Protests have already started. Will the Iran war destabilize Iraq again?