Iraq Economic News and Points to Ponder Monday Afternoon 1-13-25
Iraq's Oil Exports To The United States Reached About 80 Million Barrels In 10 Months
Economy | 01/13/2025 Mawazine News – Baghdad Iraq's exports of crude oil and its derivatives to the United States amounted to nearly 80 million barrels during 10 months of last year 2024.
The US Energy Information Administration stated that "Iraq's exports of oil and its derivatives during 10 months of last year amounted to 79 million and 416 thousand barrels."
It added that "Iraq exported about 6 million and 890 thousand barrels of oil and its products during October, down from 9 million and 625 thousand barrels in September."
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It continued, "The total crude oil exported from Iraq to America for October amounted to 5.190 million barrels, while the remaining 1.700 million barrels were oil derivatives, including 1.695 million barrels of non-condensed oils and five thousand barrels of remaining fuel oil." https://www.mawazin.net/Details.aspx?jimare=258520
The Percentage Of Foreign Remittances In Dollars In The Sales Of The Central Bank Of Iraq Increased To More Than 93%
economy | 04:45 - 01/13/2025 Mawazine News – Economy The Central Bank of Iraq's currency auction, on Monday, witnessed a high percentage of foreign remittances, reaching 93.3% of total sales, with the participation of nine banks.
According to the bank's statement, total sales in the auction amounted to 289 million, 734 thousand, and 323 dollars, at a basic exchange rate of 1310 dinars per dollar for documentary credits, international settlements for electronic cards, and foreign remittances, while the cash exchange rate amounted to 1305 dinars per dollar.
Most of the amount, worth 270 million, 848 thousand, and 323 dollars, was allocated to enhance balances abroad in the form of remittances and credits, while cash withdrawals amounted to 18 million and 850 thousand dollars.
Only one bank participated in purchasing cash dollars, while eight banks met requests to enhance foreign balances, and the auction witnessed the participation of 29 exchange companies in the operations. This trend reflects an increasing reliance on enhancing foreign balances through remittances, which reflects the current dynamics of the cash market in Iraq.
https://www.mawazin.net/Details.aspx?jimare=258536
Gold Prices Stabilize In Baghdad
Economy | 01/13/2025 Mawazine News – Baghdad The prices of Iraqi and foreign gold stabilized in the local markets in the capital, Baghdad.
- The price of gold in the wholesale markets on Al-Nahr Street in the capital, Baghdad, reached 570 thousand dinars for one mithqal of 21 karat Gulf, Turkish and European gold, and the purchase price was 566 thousand dinars.
- The selling price of one mithqal of 21 karat Iraqi gold was recorded at 540 thousand dinars, and the purchase price was 536 thousand dinars.
- The prices of gold in goldsmiths' shops, with the selling price of one mithqal of 21 karat Gulf gold ranging between 570 thousand and 580 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 540 thousand and 550 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=258516
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Oil Prices Continue To Rise, Brent Crude Exceeds $80 Per Barrel
Economy | 13/01/2025 Mawazine News – Economy Oil prices rose for the third consecutive session on Monday evening, after the price of Brent crude exceeded $80 per barrel, recording its highest levels in more than 4 months, supported by expectations of the impact of major US sanctions on the Russian oil sector and the expected effects on exports to China and India, the major importers of crude.
Brent crude futures were up 71 cents, or 0.9%, at $80.47 a barrel by 1424 GMT, after hitting an intraday high of $81.68, the highest since Aug. 27, 2024.
U.S. West Texas Intermediate (WTI) crude was up 94 cents, or 1.2%, at $77.51 a barrel after touching a high of $78.58, the highest since Aug. 15, 2024.
Brent and WTI have jumped about 6% since Jan. 8, and rose on Friday after the U.S. Treasury Department imposed new sanctions on Russian oil producers Gazprom Neft and Surgutneftegaz, as well as 183 tankers that ship Russian oil, targeting revenues Moscow uses to fund the war in Ukraine. https://www.mawazin.net/Details.aspx?jimare=258559
Al-Halbousi Discusses With US Deputy Assistant Secretary Of State Strengthening Bilateral Relations Between The Two Countries
Monday 13 January 2025 19:30 | Politics Number of readings: 125 Baghdad / NINA / The head of the Progress Party, Mohammed al-Halbousi, discussed with the US Deputy Assistant Secretary of State for Middle Eastern Affairs, bilateral relations between the two countries.
His media office said in a statement, "The head of the Progress Party, Mohammed al-Halbousi, received today, Monday, the US Deputy Assistant Secretary of State for Middle Eastern Affairs, Victoria Taylor. The statement added He continued, "The meeting also discussed developments in the region, and strengthening regional and international efforts to restore security and stability in the region. / End https://ninanews.com/Website/News/Details?key=1179865
Iraqi Stock Exchange Closes Down 1.73%
Stock Exchange The Iraqi Stock Exchange closed on Monday down 1.73% after yesterday's gains. The stock exchange traded 1.99 billion shares, worth 2 billion dinars, in 47 companies.
The United Bank of Iraq share achieved gains of 20%, reaching 0.06 dinars, followed by Gulf Insurance by 3%, while Middle East Bank lost by 12.5%.
The banking sector was the most traded, with 1.3 billion shares traded, worth 1.48 billion dinars.
Foreign investors bought 10.2 million shares worth 42.49 million dinars in the shares of the Bank of Baghdad, Gulf Commercial Bank, Al-Amin Insurance, Metal Industries and Bicycles companies, while they bought 20.5 million shares in the Baghdad Soft Drinks Company. 129 views 01/13/2025 - https://economy-news.net/content.php?id=51898
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