Historic Agreement Between Turkey and Iraq

A one-year agreement has been signed between BOTAŞ and Iraqi state oil companies SOMO and NOC. This agreement significantly increases the volume of oil shipped to Turkey from 180,000 barrels per day to 750,000 barrels per day. The primary goal of the agreement is to secure the transportation of Kirkuk oil to international markets via the Ceyhan port. This development is considered a strategic step in terms of diversifying energy supply routes and strengthening regional cooperation. The increase in oil flow could have positive effects on both Turkey's energy infrastructure and Iraq's export capacity. This is not an investment advice.

📊 BRENT — Piyasa Yorumu

▲ up · 60%

The historic agreement between Turkey and Iraq could enhance energy supply security and support regional stability. This may reduce the perceived risk to oil supplies, creating limited upward pressure on prices. Technical indicators also support this outlook; the RSI is at 56 and the MACD is above its signal line, indicating positive short-term momentum. However, although the price is above the SMA20 and SMA50, the impact of the news may remain limited, and an excessive rally should not be expected. Overall, a slight upward trend is anticipated in the short term.

RSI 14

56.6

MACD

0.22

24h Δ

0.84%

📊 NOC — Piyasa Yorumu

▲ up · 60%

The historic agreement between Türkiye and Iraq could strengthen regional cooperation and positively impact NOC shares. The RSI14 is above 55, indicating the stock is not oversold. The positive divergence between the MACD and the MACD signal line also points to an upward trend. However, the decline seen in the last 24 hours and the price remaining below the SMA20 and SMA50 could increase short-term uncertainty.

RSI 14

55.6

MACD

0.30

24h Δ

-1.17%

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