Lower-Than-Average Demand For US Bonds
Money and Business Economy News – Follow-up The US Treasury Department announced the results of a series of auctions to sell $58 billion in three-year long-term bonds, with subscriptions for the offering falling below average.
The yield on the three-year US bonds was 3.579% of their nominal value, with a bid-to-cover ratio of 2.55 times.
Last month, the US Treasury sold $58 billion in three-year bonds, yielding 3.518% and with a coverage ratio of 2.62 times the offering value, according to the German news agency DPA.
It is worth noting that the coverage ratio is a measure of demand for bonds, indicating the size of the subscription compared to the size of the offering. The average coverage ratio in the last 10 offerings of three-year bonds was 3.63 times.
The U.S. Treasury Department is scheduled to announce today the results of a $39 billion 10-year bond offering and a $22 billion 30-year bond offering on Thursday. https://www.economy-news.net/content.php?id=66618
US Dollar Drops In Baghdad And Erbil Markets
2026-03-11 Shafaq News- Baghdad/ Erbil The US dollar opened Wednesday’s trading lower in Iraq, hovering around 154,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 153,850 dinars per 100 dollars, down from the previous session’s 155,500 dinars.
In the Iraqi capital, exchange shops sold the dollar at 154,250 dinars and bought it at 153,250 dinars, while in Erbil, selling prices stood at 153,350 dinars and buying prices at 153,250 dinars.
https://www.shafaq.com/en/Economy/US-Dollar-drops-in-Baghdad-and-Erbil-markets-7
Gold Ticks Higher Ahead Of US Inflation Data
2026-03-11 Shafaq News Gold edged higher on Wednesday on safe-haven demand and as a retreat in oil prices calmed inflation worries, reviving expectations for potential Federal Reserve rate cuts this year as investors awaited U.S. CPI data that may offer more cues.
Spot gold was up 0.2% at $5,202.10 per ounce, as of 0525 GMT. U.S. gold futures for April delivery fell 0.6% to $5,211.
Oil prices dropped below $90 per barrel on reports of the International Energy Agency proposing the largest release of oil reserves in its history to curb surging prices.
“With these (inflation) concerns having eased… hedging and safe-haven attributes (of gold) has once again come to the fore. So, I think from current levels we remain optimistic,” said Nikos Kavalis, Singapore managing director of Metals Focus.
The U.S. and Israel pounded Iran with what the Pentagon and the Iranians on the ground called the most intense airstrikes of the war, despite global markets betting that Trump will seek to end the conflict soon.
The war has effectively shut the Strait of Hormuz, a chokepoint for a fifth of global oil and liquefied natural gas, stranding tankers for more than a week and forcing producers to halt output as storage fills, driving energy prices soaring.
Bullion, traditionally viewed as a safe-haven asset, has risen more than 20% so far this year, notching successive record highs amid heightened geopolitical and economic uncertainty.
“I think it’s very likely that we’ll see gold get to over $6,000 an ounce by the third or fourth quarter this year, probably even higher early next year,” Kavalis said.
Markets are now awaiting the U.S. consumer price index for February, due later in the day, and the Personal Consumption Expenditures (PCE) index – the Fed’s preferred inflation gauge – on Friday.
Investors expect the Fed to keep rates steady at the end of its two-day meeting on March 18 but still see atleast two rate cuts this year, per CME Group’s FedWatch tool.
Spot silver edged 0.2% lower to $88.24 per ounce. Spot platinum rose 0.1% to $2,202.52, and palladium rose 0.9% to $1,669.82. (Reuters) https://www.shafaq.com/en/Economy/Gold-ticks-higher-ahead-of-US-inflation-data
Gold Prices Dip In Baghdad, Erbil
2026-03-11 Shafaq News- Baghdad/ Erbil On Wednesday, gold prices hovered around 1.12 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 1.120 million IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1.116 million IQD. The same gold had sold for 1.130 million IQD on Tuesday.
The selling price for 21-carat Iraqi gold stood at 1.090 million IQD, while the buying price reached 1.086 million IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1.120 million and 1.130 million IQD, while Iraqi gold sold for between 1.090 million and 1.100 million IQD.
In Erbil, 22-carat gold was sold at 1.170 million IQD per mithqal, 21-carat gold at 1.117 million IQD, and 18-carat gold at 957,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-dip-in-Baghdad-Erbil-9
Oil Prices Fall On Report Of Record IEA Reserve Release
Economy & BusinessBreakingGlobal Oil
2026-03-11 Shafaq News- Baghdad/ Erbil Oil prices fell on Wednesday after a report that the International Energy Agency is considering the largest release of strategic oil reserves in its history to curb crude prices that surged during the US-Israel-Iran war.
Brent crude futures slipped 23 cents (0.26%) to $87.57 per barrel at 0023 GMT, while US West Texas Intermediate crude dropped 37 cents (0.44%) to $83.08 per barrel. https://www.shafaq.com/en/Economy/Oil-prices-fall-on-report-of-record-IEA-reserve-release
Basrah Crude Remains Over $90 Amid Global Fall
2026-03-11 Shafaq News- Basra Basrah crude prices fell on Wednesday alongside global oil markets, with Basrah Heavy dropping to $91.96 per barrel.
Basrah Heavy declined $8.25 (8.28%), while Basrah Medium fell $8.91 (8.8%) to $93.91 per barrel.
Oil prices eased following reports that the International Energy Agency is considering the largest release of strategic oil reserves in its history to cool prices that surged during the US-Israel-Iran war.
Globally, Brent crude stood at $87.57 per barrel, while US West Texas Intermediate traded at $83.08
https://www.shafaq.com/en/Economy/Basrah-crude-remains-over-90-amid-global-fall
Iraq Exports Over 11 Million Tons Of Petroleum Products In 2025
2026-03-11 Shafaq News- Baghdad Iraq exported more than 11.4 million tons of petroleum products in 2025, according to the State Organization for Marketing of Oil (SOMO).
The figures showed that Iraq exported a total of 11,414,718 tons of refined petroleum products during the year, including 46,253 tons of jet fuel, 1,122,519 tons of naphtha, and 10,245,946 tons of fuel oil.
Despite being the second-largest crude oil exporter in the Organization of the Petroleum Exporting Countries (OPEC), Iraq both imports and exports some refined petroleum products due to limited and aging refinery capacity. Many of Iraq’s major refineries date back decades.
The Baiji refinery, with a capacity of 300,000 barrels per day, was largely destroyed during the war against ISIS, while the Dora refinery in Baghdad, with a capacity of 140,000 barrels per day, was built in the 1960s.
https://www.shafaq.com/en/Economy/Iraq-exports-over-11-million-tons-of-petroleum-products-in-2025
