For The Second Week In A Row, Iraqi Oil Records A Significant Loss
Energy Economy News – Baghdad Basra Heavy and Medium crude oil recorded a significant weekly loss for the second consecutive week.
Basra Heavy crude closed its final session on Friday, up $1.44 to $61.69, but recorded a weekly loss of $5.28, or 7.88%. Basra Medium crude also closed its last session up $1.44 to $70.02, recording a weekly loss of $5.18, or 7.4%.
Oil markets are experiencing their second consecutive weekly loss, due to concerns about the ongoing trade war between the United States and China.
Brent crude also fell more than 1% during the week, while West Texas Intermediate crude fell by a similar percentage, after both benchmarks witnessed a decline of 11% last week. https://economy-news.net/content.php?id=54352
Prime Minister: The Government Has Succeeded In Confronting Various Internal And External Crises.
Local Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani affirmed on Saturday that the government has successfully confronted various crises, both internal and external, and has shouldered its responsibilities despite the changes and events taking place in the region.
The Prime Minister’s Media Office said in a statement, seen by Al-Eqtisad News, that “Prime Minister Mohammed Shia al-Sudani met in Erbil Governorate with the Prime Minister of the Kurdistan Regional Government, Masrour Barzani.
” The statement added that “a number of national files and issues were discussed (during the meeting), the most prominent regional and international developments, and the government’s position on the crises facing the region. The importance of partnership and coordination in facing challenges and adopting a balanced policy based on cooperation and mutual interests with sisterly and friendly countries were also emphasized.”
Al-Sudani pointed out, according to the statement, that “the government has succeeded in confronting various crises, both internal and external, and has shouldered its responsibilities despite the changes and events taking place in the region,” reiterating “the pursuit of developing the national economy and establishing stability across the country.”
The statement continued, “The meeting also touched on the importance of working to find solutions to all common issues and removing all obstacles in accordance with the constitution and the law, in a manner that achieves justice and benefit for all Iraqis.” https://economy-news.net/content.php?id=54372
Customs Announces The Activities Of The Centers And Investigation And Anti-Smuggling Departments.
Money and Business Economy News – Baghdad The General Authority of Customs announced on Saturday the activities of customs centers and investigation and anti-smuggling departments.
The authority said in a statement, seen by Al-Eqtisad News, that “in implementation of the directives of the Director General of the General Authority of Customs, Thamer Qasim Daoud, and in continuation of the tireless efforts of the investigation and anti-smuggling departments and customs centers to control all goods entering the country, limit smuggling and tampering operations, and support the state treasury revenues and advance the Iraqi economy, and within the applicable instructions and controls, the customs departments and centers were able to seize a group of violating goods.”
She explained that “the Investigation and Anti-Smuggling Department in the Central Region Customs Directorate seized, in several separate operations, (11) trucks loaded with (carpet, cardboard, silicone, plastic granules, cigarettes, motorcycles and spare parts, hair shampoo, chicken breast), while the Investigation and Anti-Smuggling Department in the Northern Region Customs Directorate was able to seize (4) trucks loaded with (household materials, accessories, iron, milk, motorcycles and spare parts),” noting that “the Umm Qasr Middle Customs Center seized (3) 40-foot containers loaded with (15) Toyota Crown type wheels without the model permitted to be imported.”
She added that “the Arar Border Customs Center seized the owner of a Tahoe tourist vehicle bearing Dubai license plates, who was attempting to leave for Saudi Arabia without paying the late fees due on the vehicle.”
She noted that “these efforts come through cooperation with supporting government agencies within the framework of the relentless pursuit to enhance economic security and protect society from the risks associated with illegal shipments, in addition to supporting the national economy and adhering to the applicable customs regulations and laws.” https://economy-news.net/content.php?id=54374
The Dollar Price Rose In Local Markets.
Saturday, April 12, 2025 | Economic Number of reads: 162 Baghdad / NINA / The dollar exchange rates witnessed a rise in the markets of Baghdad and Erbil, this Saturday morning.
The dollar exchange rates in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 148,000 dinars for every 100 dollars.
The selling price in exchange shops in the local markets in Baghdad recorded 149,000 dinars, while the purchase price reached 147,500 dinars, for every 100 dollars.
In Erbil, the selling price of the dollar was recorded at 149,100 dinars, and the purchase price was 147,800 dinars, for every 100 dollars. / https://ninanews.com/Website/News/Details?key=1197210
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