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While the threat of the Coronavirus is prevalent in news, on the back burners, we still have the risks in the Middle East to monitor. Earlier today, there were reports of five rockets landing near the US Embassy in Baghdad, Iraqi authorities said.

There were no casualties or material damage was reported in the attacks on the high-security Green Zone, and, so far, the attacks have gone unclaimed. However, in more recent reports, of five rockets fired three rockets were a direct hit on US embassy in the Iraqi capital, including one on the cafeteria, according to a security source.

The rocket attacks come two days after thousands gathered in Baghdad calling for US troops to leave the country. The presence of foreign troops has been a hot issue in the country after Iranian top Gen. Qasem Soleimani was killed in a U.S. drone strike in Baghdad earlier this month.

Markets implications

WTI will be an interesting open today, not least due to risk-off elsewhere, but with the combined threat of an escalation of rubles in the ME.