A Parliamentary Bloc Calls For A Permanent Meeting Of The Crisis Cell To Address Developments In The Region.
Tuesday, June 17, 2025, | Politics Number of reads: 210 Baghdad / NINA / The parliamentary opposition bloc criticized what it described as the absence of representatives of the blocs representing the governorates from the emergency session to discuss the violation of Iraqi airspace, while demanding a permanent convening of the crisis cell to address any developments in the region.
The head of the bloc, MP Amer Abdul Habbar, said in a press conference on Tuesday, that “the session held to discuss the violation of Iraqi airspace did not achieve quorum, as the number of attendees reached only 75 representatives, and there were no representatives of the Kurdish blocs, the blocs of the central and southern governorates, and the blocs of the western governorates, but rather the presence of only individuals to discuss a sensitive issue that affects the country’s sovereignty, security and stability.”
He added, “Since last year, we have submitted an official request to form a secret operations room headed by the Commander-in-Chief of the Armed Forces and with the participation of all security agencies and formations, including those affiliated with the security services and those not affiliated, for the necessity of having a national decision that takes into account the interest of Iraq, and spares the country the risk of entering into military and security conflicts.” https://ninanews.com/Website/News/Details?Key=1234931
The Dollar Declines In Iraq After An Earlier Rise.
Economy | 06/17/2025 Mawazine News – Baghdad – The dollar exchange rate witnessed a decline against the dinar in local markets. It fell on the Al-Kifah and Al-Harithiya stock exchanges to 143,250 Iraqi dinars for every $100, while yesterday morning, Monday, it recorded 143,850 dinars for every $100.
Selling prices in exchange shops in local markets in Baghdad also declined, as the selling price reached 144,250 Iraqi dinars for every $100, and the buying price reached 142,250 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=262691
Gold Temporarily Fell 1.2% After A Sharp Rise.
Tuesday, June 17, 2025 | Economic Number of reads: 177 Baghdad / NINA / Gold prices fell by more than 1% during today’s trading, as investors turned to profit-taking after the precious metal approached its highest levels in eight weeks.
Spot gold fell 1.2% to $3,392.86 per ounce, after reaching its highest level since April 22 earlier in the session. The yellow metal had risen by more than 1% on Friday. US gold futures fell 1% at settlement, recording $3,417.30 per ounce.
As for the rest of the precious metals, silver prices stabilized at $36.33 per ounce, while platinum rose 2% to $1,252.57, and palladium rose 0.8% to $1,036.10 per ounce. / End https://ninanews.com/Website/News/Details?key=1234872
Brent Crude Futures Rose 1.6%.
Tuesday, June 17, 2025 09:47 | Economic Number of reads: 176
Baghdad/ NINA / Global oil market prices rose more than 2% today (Tuesday).
Brent crude futures rose $1.17, or 1.6%, to $74.4 a barrel.
US West Texas Intermediate crude rose $1.34, or 1.87%, to $73.11. https://ninanews.com/Website/News/Details?key=1234874
Economist: Targeting Oil Facilities Could Raise The Price Of A Barrel To $130.
Today 12:18 Information / Baghdad.. International economics professor Nawar Al-Saadi warned on Tuesday that an escalation in military tensions between Iran and the Zionist entity, with the exchange of strikes shifting from limited scope to direct targeting of vital infrastructure, could push the world toward one of the most serious economic crises in decades.
Al-Saadi told Al-Maalouma News Agency that “the targeting of a gas platform by the Zionist entity and Iran’s response by bombing a refinery in Haifa represent a dangerous indicator of the potential outbreak of a strategic assets war in which energy facilities, including oil and gas, become key targets in the conflict.”
He added that “global energy security will be the first to pay the price,” noting that “the Strait of Hormuz, over which Iran has geographic control, passes more than 25% of global oil exports.”
He explained that “any actual threat to this vital waterway, whether through closure, bombing, or naval mines, would cause a market shock that could send oil prices to nearly $130 per barrel if navigation were partially disrupted.”
He explained that “this price jump will put significant pressure on the economies of importing countries, particularly in Asia and Europe, and will push toward a new global inflationary wave
that could weaken purchasing power and lead to an economic slowdown that could reach the point of recession if the conflict continues.”
He pointed out that “the repercussions of the escalation will impact global supply chains,
particularly in the transportation and heavy industry sectors, due to rising fuel and logistics costs,
which threatens a shortage of basic commodities and a decline in global production.”
He stressed that “the Gulf states will not be immune from the impact, despite their relative distance from the geography of the confrontation,” noting that their energy facilities remain vulnerable to potential missile or electronic attacks, which would deepen the supply crisis.
As for Iraq, he noted, “The impact will be twofold.
While it may benefit in the short term from higher oil prices,
it could face a real problem if the Strait of Hormuz is closed or export routes are disrupted,
particularly given the Ceyhan pipeline’s closure and its current reliance on the Gulf as the sole conduit for its oil exports.”
He concluded by saying, “The transformation of the conflict into a full-scale war on energy infrastructure will not remain confined to its security or political scope, but may cause a global economic shock deeper than that caused by the Ukraine war, with the potential to redraw the map of alliances and centers of economic influence in the world.” End 25/S
https://almaalomah.me/news/101672/economy/اقتصادي:-استهداف-منشآت-النفط-قد-يرفع-سعر-البرميل-إلى-130-دول
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