Shafaq News- Baghdad

The annual trade between Armenia and Iraq stands at about$400 million, Armenia's Ambassador to Iraq, Ruben Soghoyan, said on Monday duringtalks with Iraqi Transport Minister Wahb Al-Hassani on expanding bilateralcooperation.

According to a statement by Iraq's Transport Ministry, Soghoyannoted that Armenia is seeking to expand cooperation in transportation bydrawing on the expertise of Armenian companies in road construction, logistics,and railway projects.

He added that his recent visit to Iraq's southern Basraprovince reinforced his view of the strategic importance of the Grand Faw Portand the Development Road project, two key infrastructure initiatives aimed atenhancing Iraq's regional trade connectivity.

Al-Hassani welcomed efforts to deepen bilateral cooperation,saying the ministry remains open to expanding partnerships with friendlycountries and encouraging leading international companies to contribute to thedevelopment of Iraq's transport sector.

“A bilateral transport agreement between Iraq and Armenia isready in draft form,” he added, describing it as a strategic agreement thatIraq hopes to implement in the near future.

Shafaq News- Al-Anbar

Authorities in Iraq's western al-Anbar province beganconstructing Iraq's first 100% privately owned cement plant, a project expectedto produce one million tons of cement annually and create at least 5,000 jobs,Moaid al-Dulaimi, spokesperson for al-Anbar local government, told Shafaq Newson Monday.

Construction is currently 27-30% complete, he said, addingthat the facility, the Ramadi Cement Plant, will use German machinery andchemicals, and is being supervised by Swiss technical specialists to ensureinternational engineering standards.

The developer, Sada Al-Nujoom for Contracting and OilServices, has also built a dedicated 26-megawatt power station to supply theproject without drawing electricity from al-Anbar's allocation on the nationalgrid.

Shafaq News- Kirkuk

British energy company BP has resumed operations in Iraq'sKirkuk province, with local officials and company representatives discussingthe implementation of a contract to develop the province's oil fields,officials told Shafaq News on Monday.

Anjel Zaya Sheba, secretary-general of the Kirkuk ProvincialCouncil, said Kirkuk Governor Mohammed Samaan Agha met BP Iraq General ManagerZaid Al-Yasiri to review the implementation of the company's contract withIraq's Oil Ministry to develop the province's oil fields.

“BP returned to Kirkuk after suspending operations in recentmonths because of regional security developments,’ he noted, describing theresumption of its activities as an important step toward advancing developmentprojects and increasing oil production.

The meeting also reviewed plans to develop oil fieldsoperated by the North Oil Company and North Gas Company, as well as BP's futureprojects in the province.

According to Sheba, the discussions also covered efforts tostrengthen Iraq's oil sector, train national personnel, create employmentopportunities for Kirkuk residents, and support community development projects.

A source at the North Oil Company also said BP hadredeployed its technical and engineering teams and restarted developmentprograms after previously withdrawing most of its British and other foreignemployees because of heightened regional tensions.

The return of the foreign teams is expected to acceleratetechnical work and keep development programs on schedule, supporting the OilMinistry's efforts to improve production efficiency and expand investment in Kirkuk'soil fields, the source added.

In March, BP withdrew a number of its foreign employees fromoil field development projects in Kirkuk as a precautionary measure in responseto regional security tensions and the impact of the ongoing conflict in the MiddleEast. At the time, sources affirmed that “the move did not affect the company'scontract with Iraq's Oil Ministry and was intended as a temporary measurepending a security assessment.”

Kirkuk is home to some of Iraq's oldest and largest oilfields, including the Kirkuk, Bai Hassan, Jambur, and Khabbaz fields. Thefields have faced technical and security challenges in recent years, promptingthe Oil Ministry to partner with international energy companies to rehabilitateinfrastructure and increase production capacity.

Shafaq News- Baghdad/ Erbil

The US dollar closed Monday’s trading lower in Iraq, hoveringaround 155,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded inBaghdad's Al-Kifah and Al-Harithiya exchanges at 155,000 dinars per 100dollars, down from the morning session’s 156,750 dinars.

In the Iraqi capital, exchange shops sold the dollar at 155,500dinars and bought it at 154,500 dinars, while in Erbil, sellingprices stood at 154,850 dinars and buying prices at 154,800 dinars.

Shafaq News-Baghdad

Bankdeposits in Iraq fell to 104.727 trillion Iraqi dinars ($66.8B) at the end ofApril 2026 from 111.065 trillion dinars ($70.9B) at the end of 2025, accordingto data released by the Central Bank of Iraq (CBI).

The datashowed central government deposits declined to 31.517 trillion dinars ($20.1B)from 36.497 trillion dinars ($23.3B), while private-sector deposits fell to48.924 trillion dinars ($31.2B) from 50.644 trillion dinars ($32.3B). Depositsheld by public institutions, however, rose to 24.286 trillion dinars ($15.5B)from 23.924 trillion dinars ($15.3B).

Total creditalso declined to 73.637 trillion dinars ($47.0B) at the end of April from75.584 trillion dinars ($48.2B) at the end of 2025.

The privatesector accounted for the largest share of total credit at 47.236 trilliondinars ($30.1B), followed by the central government with 23.915 trillion dinars($15.3B) and public institutions with 2.486 trillion dinars ($1.6B).

Shafaq News- Baghdad/ Erbil

Gold prices declined in Baghdad and Erbil on Monday, with the price of 21-carat imported gold falling to 894,000 Iraqi dinars per mithqal (about five grams) in Baghdad's wholesale market.

According to a Shafaq News market survey, 21-carat Gulf, Turkish, and European gold sold for 894,000 dinars per mithqal and was bought at 890,000 dinars, down from 898,000 dinars on Sunday.

Iraqi 21-carat gold sold for 864,000 dinars per mithqal and was bought at 860,000 dinars.

In retail markets, imported 21-carat gold sold for between 895,000 and 905,000 dinars per mithqal, while Iraqi 21-carat gold ranged between 865,000 and 875,000 dinars.

In Erbil, 22-carat gold sold for 935,000 dinars per mithqal, 21-carat for 893,000 dinars, and 18-carat for 756,000 dinars.

The price of 21-carat gold first surpassed 1 million Iraqi dinars per mithqal in Iraq's local markets on Jan. 21, 2026. Gold prices in Iraq are generally determined by international bullion prices and the local exchange rate.

Shafaq News- Baghdad/ Erbil

The US dollar rose in Baghdad and Erbil on Monday, trading around 156,700 Iraqi dinars per $100.

According to a Shafaq News market survey, the dollar traded at 156,750 dinars per $100 at Baghdad's Al-Kifah and Al-Harithiya central exchanges, up from 156,600 dinars on Sunday's trading.

In the Iraqi capital, exchange shops sold the dollar at 157,250 dinars and bought it at 156,250 dinars.

In Erbil, the dollar traded higher, with selling prices reaching 156,600 dinars per $100 and buying prices at 156,500 dinars.

Shafaq News

Oil prices rose on Monday following days of tit-for-tat strikes by the ‌U.S. and Iran that underscored the fragility of their interim peace deal and again slowed energy shipping through the Strait of Hormuz.

Brent crude futures climbed 58 cents, or 0.8%, to $72.57 a barrel at 0207 GMT ​while U.S. West Texas Intermediate crude was at $70.11 a barrel, up 88 cents, or ​1.3%.

"There's still plenty of risk facing the oil market. Even so, participants ⁠appear to be ... focusing on what a continued recovery in oil flows would mean for ​the global balance," ING analysts said in a note on Monday.

"This complacency is odd and clearly ​leaves significant upside risk if the supply recovery proves slow."

Brent crude fell 10.6% last week, its third weekly decline, after crude shipments through the strait rose last week to their highest level since the U.S.-Israeli war on ​Iran began in late February.

However, traffic has since slowed following renewed attacks on ships in ​the strait from Thursday, including a Qatar-linked oil tanker, that triggered strikes from the U.S. and Iran in the ‌worst ⁠escalation since they signed an interim peace deal.

Capping oil price gains, Iran and the U.S. agreed to halt recent hostilities in the Gulf and renew talks regarding their dispute over the Strait of Hormuz, a U.S. official said on Sunday.

"The market is likely to re-evaluate its assumption of ​a quick recovery of ​oil supply from ⁠the Persian Gulf," ANZ analysts said in a note.

Saudi oil giant Aramco resumed crude oil loadings on Friday at its Ras Tanura terminal, west of ​the Strait of Hormuz, after they were halted for nearly four ​months, as ⁠oil producers ramped up output and exports ahead of an interim deal.

Loadings continued even after a helicopter belonging to the company crashed on Sunday at Ras Tanura, killing 14 nationals. The cause of the ⁠crash ​was unknown.

"Physical flows are constrained by tanker backlogs, damaged ​infrastructure and production shut-ins. It could take the remainder of the year before supply is near pre-conflict levels," ANZ analysts ​said.

(REUTERS)

Only the headline is edited by Shafaq News.

Shafaq News- Baghdad/ Erbil

The US dollar closed Sunday's tradinglower in Iraq, hovering around 155,000 dinars per 100 dollars in Baghdad andErbil.

According to Shafaq News marketsurvey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at155,000 dinars per 100 dollars, down from the morning session's 156,600 dinars.

In the Iraqi capital, exchange shopssold the dollar at 155,500 dinars and bought it at 154,500 dinars.

In Erbil, selling prices stood at154,800 dinars and buying prices at 154,700 dinars.

Shafaq News- Baghdad

Iraq recorded the region's strongest increase in project value between May 15 and June 19, adding $12 billion in new projects to lift its total project pipeline to $429 billion, according to the latest MEED Projects Index.

Iraq's project market grew 2.8% during the period, supported by the $3 billion North Oil Company (NOC) integrated development project at the Ajil oilfield advancing to the study phase.

Across the Gulf, the regional project market expanded for the fifteenth consecutive month, adding $66 billion to reach $5.08 trillion. The UAE and Oman each posted project growth of 2.8% and 3%, respectively, while Qatar also expanded. Saudi Arabia was the only Gulf market to record a decline, with project values falling by $10 billion, or 0.5%, to $2.16 trillion.

Shafaq News- Baghdad

Iraq's foreign exchange reserves fell to $97.8 billion at the end of April from $100.3 billion a month earlier, according to Central Bank of Iraq (CBI) data released on Sunday.

CBI’s investments also declined, falling to 92.66 trillion Iraqi dinars (about $70B) from 95.32 trillion dinars (about $72B) in March, while cash holdings dropped to 566 billion dinars (about $430M) from 849 billion dinars (about $640M).

Gold reserves edged lower to 33.93 trillion dinars (about $25.7B) from 34.28 trillion dinars (about $26B) a month earlier.

Shafaq News- Baghdad/ Erbil

On Sunday, gold priceshovered around 900,000 IQD per mithqal in Baghdad and Erbil markets,according to Shafaq News market survey.

Gold prices on Baghdad's Al-NahrStreet recorded a selling price of 898,000 IQD per mithqal (equivalentto five grams) for 21-carat gold, including Gulf, Turkish, and Europeanvarieties, with a buying price of 894,000 IQD. The same gold had soldfor 898,000 IQD on Saturday.

The selling price for 21-caratIraqi gold stood at 868,000 IQD, with a buying price of 864,000IQD.

In jewelry stores, the selling priceper mithqal of 21-carat Gulf gold ranged between 890,000 and 900,000IQD, while Iraqi gold sold for between 870,000 and 880,000 IQD.

In Erbil, 22-carat gold wassold at 960,000 IQD per mithqal, 21-carat gold at 907,000 IQD,and 18-carat gold at 777,000 IQD.

Shafaq News- Baghdad/ Erbil

The US dollar opened Sunday’strading lower in Iraq, hovering around 157,000 dinars per 100dollars.

According to Shafaq News marketsurvey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,600dinars per 100 dollars, down from the previous session’s 156,850 dinars.

In the Iraqi capital, exchange shopssold the dollar at 157,000 dinars and bought it at 156,000 dinars,while in Erbil, selling prices stood at 156,400 dinars and buying pricesat 156,300 dinars.

Shafaq News- Baghdad/ Washington

Iraq, OPEC's second largest producer,resumed crude oil exports to the United States at 71,000 barrels per day (bpd)last week after shipments dropped to zero a week earlier, according to datareleased on Sunday by the US Energy Information Administration (EIA).

Canada remained the largest crudesupplier to the United States with 3.551 million bpd, followed by Venezuela at578,000 bpd, Mexico at 346,000 bpd, Colombia at 218,000 bpd, and Ecuador at174,000 bpd.

Libya exported 116,000 bpd to theUnited States, while Brazil supplied 71,000 bpd. Nigeria exported 3,000 bpd,while US imports of Saudi crude remained at zero.

Shafaq News- Baghdad

Thai 5% white rice rose $34 over thepast month to $483 per metric ton FOB on June 25, supported partly by Iraqibuying interest ahead of fresh crop arrivals expected from late July, S&PGlobal Energy reported.

Iraq imported 91,865 metric tons ofThai rice in the first four months of 2026, after Thailand shipped about onemillion metric tons to Iraq in 2025. A Thailand-based exporter also linkednear-term price support to renewed demand from Malaysia and the Philippines,along with exporters covering short positions.

Thailand’s rice market is watchingsecond-crop arrivals, with exporters divided over whether new supply willpressure prices or demand will keep them firm. Below-average rainfall couldaffect the upcoming crop, while the US Department of Agriculture expects Thairice production to dip 0.7% year-on-year to 20.7 million metric tons in the2025-2026 marketing year.

Shafaq News- Baghdad

Iraq recorded the fastest relativerise in protest activity among emerging markets, with events jumping 671% to44,763 in the second quarter of 2026 from 5,806 a year earlier, according toVerisk Maplecroft’s Civil Unrest Index.

The UK-based risk consultancy saidglobal civil unrest reached a six-year high, with the index tracking protestfrequency, scale, severity, deaths, and damage to commercial property.

Turkiye followed Iraq among emergingmarkets, rising 535% to 404,511 events from 63,724. India climbed 119% to583,589 from 266,841, the Philippines rose 333% to 105,712 from 24,414, andBrazil increased 108% to 95,990 from 46,150.

Beyond emerging markets, US activityrose 458% to 636,577 events from 114,034, Italy climbed 183% to 427,023 from150,795, Greece increased 307% to 107,477 from 26,377, and the Netherlands rose476% to 65,411 from 11,349. France rose 44% to 277,517 from 192,636.

Verisk Maplecroft linked the rise tomonths of higher energy and living costs, which weakened household purchasingpower despite lower oil prices after the US-Iran truce.

“Inflationary pressure from thedisruption to shipping and damage to energy infrastructure will continue wellinto the second half of 2026,” Torbjorn Soltvedt, head of EMEA at VeriskMaplecroft, told Reuters.

Read more: Iraq’s protests: A system that learned how to contain the street

Shafaq News- Baghdad/ Erbil

The US dollar closed Saturday’s trading lower in Iraq,hovering around 157,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded inBaghdad's Al-Kifah and Al-Harithiya exchanges at 156,750 dinars per 100dollars, down from the morning session’s 156,850 dinars.

In the Iraqi capital, exchange shops sold the dollar at157,250 dinars and bought it at 156,250 dinars, while in Erbil, selling pricesstood at 156,850 dinars and buying prices at 156,750 dinars.

Jabar Goran, spokesperson for the dollar market inAl-Sulaymaniyah, told Shafaq News that recent fluctuations in the Iraqi dinar'sexchange rate against the US dollar “were driven by unfounded rumors.”

Goran added that discussions between the Kurdistan RegionalGovernment and the federal government on implementing the ASYCUDA customssystem are ongoing, noting that the two sides had signed a draft agreement. Hesaid the full implementation of the system at border crossings would contributeto greater stability in the dinar's exchange rate.

Over the past few days, the market exchange rate surged amidmedia reports that the federal government intended to raise the officialexchange rate from 132,000 to 160,000 dinars per 100 US dollars. The CentralBank of Iraq denied the allegations, reaffirming its commitment to maintainingexchange rate stability and meeting legitimate demand for foreign currency.

Shafaq News- Baghdad

Iraq aims to raise its crude oil production to 7 million barrels per day (bpd) within the next three years, Prime Minister Ali al-Zaidi said on Saturday,

Speaking to Sky News, the PM noted that Baghdad has already presented the production target to US energy companies as it seeks greater investment in Iraq's upstream oil sector.

Last week, Iraq pushed to expand production capacity while pressing for greater flexibility under OPEC output quotas. Baghdad, the organization's second-largest producer after Saudi Arabia, has repeatedly argued that its production limits do not reflect its growing capacity or long-term development plans.

Al-Zaidi did not address Iraq's future membership in OPEC directly, days after speculation over a possible withdrawal was dismissed by the Oil Ministry. Instead, he emphasized the government's commitment to expanding oil production through international partnerships and investment.

The target would represent an increase of roughly 55–65% from Iraq's current production levels of about 4.2–4.5 million bpd, which fell to about 1.3 million bpd during the Hormuz closure before recovering.

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed

Shafaq News-Baghdad/ Erbil

On Saturday, gold prices hoveredaround 900,000 IQD per mithqal in Baghdad and Erbil markets, according to a survey byShafaq News Agency.

Gold prices on Baghdad's Al-NahrStreet recorded a selling price of 898,000 IQD per mithqal (equivalent to five grams) for21-carat gold, including Gulf, Turkish, and European varieties, with a buyingprice of 894,000 IQD. The same gold had sold for 880,000 IQD on Thursday.

The selling price for 21-caratIraqi gold stood at 868,000 IQD,while the buying price reached 864,000 IQD.

In jewelry stores, the sellingprice per mithqal of 21-carat Gulf gold ranged between 890,000and 900,000 IQD, while Iraqi gold sold for between 870,000 and 880,000 IQD.

In Erbil, 22-carat gold wassold at 956,000 IQDper mithqal, 21-carat gold at 912,000 IQD, and 18-carat gold at 782,000IQD.

Shafaq News- Baghdad

Former Iraqi Prime Minister Adel Abdul Mahdi on Saturday warned against any move to withdraw from OPEC, urging Baghdad instead to seek a larger oil production quota within the organization to strengthen its position in global energy markets.

OPEC was born in Iraq to regulate markets, promote fair competition, and protect the interests of both producers and consumers, Abdul Mahdi said, adding, "Let us secure our rights by strengthening the organization, not burying it."

He argued that leaving OPEC would ultimately harm Iraq despite allowing higher oil output. "We would produce more, others would follow, the market would become oversupplied, and prices and revenues would fall."

Last week, Oil Ministry spokesman Salim al-Rikabi and government sources suggestedIraq could reconsider its membership unless its production quota is raised to match its export capacity and fiscal needs. The Oil Ministry later dismissed reports of a possible withdrawal, reaffirming Iraq's commitment to OPEC and denying any intention to leave the organization.

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed

Shafaq News- Baghdad/ Erbil

The US dollar was steady in Baghdad and edged higher in Erbil on Saturday as trading resumed for the week, hovering around 157,000 Iraqi dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded at 156,850 dinars per 100 dollars in Baghdad's Al-Kifah and Al-Harithiya central exchanges, unchanged from Thursday's opening session.

In the Iraqi capital, exchange shops sold the dollar at 157,250 dinars and bought it at 156,250 dinars.

In Erbil, the dollar advanced, with selling prices reaching 156,900 dinars per 100 dollars and buying prices at 156,800 dinars.

Shafaq News- Basrah

Basrah Heavy and Basrah Medium crude posted weekly gains of more than 17%, outperforming global oil benchmarks, which ended the week lower.

Basrah Heavy rose $1.76, or 2.97%, in the final trading session to settle at $61.05 a barrel, bringing its weekly gain to $10.57, or 17.3%. Basrah Medium also climbed $1.76, or 2.87%, to $63.15 a barrel, recording a weekly gain of $10.57, or 20.1%.

Meanwhile, Brent settled at $71.96 a barrel, down $3.30, or 4.38%, while US West Texas Intermediate fell $2.77, or 3.85%, to $69.12 a barrel.

Shafaq News- Tehran/ Washington

European natural gas prices climbed on Saturday after renewed US-Iran security tensions in the Strait of Hormuz, through which about 20% of global energy supplies pass, and an attack on a commercial vessel.

Benchmark gas futures rose 1.6% after declining in the previous two trading sessions. Although prices have traded within a narrow range this week, they remain more than 25% above pre-war levels.

Empty liquefied natural gas (LNG) carriers were seen waiting near Qatar's main export terminal in the Gulf, preparing to load new cargoes. At the same time, rising summer demand for cooling in Europe and Asia is expected to intensify competition for seaborne LNG shipments, potentially forcing European buyers to continue paying a premium to secure sufficient supplies.

European gas storage facilities are currently just over 47% full, remaining below the seasonal average.

Read more: Iran is losing the war, the US is losing the endgame

Shafaq News- Damascus

Economic obstacles are pushing Syrian industrialists towardimporting finished goods instead of investing in domestic manufacturing, thehead of the Energy and Gas Committee at the Damascus and Rural Damascus Chamberof Industry told Shafaq News on Friday.

Mohammad Marwan Orfali pointed out that economic cooperationwith surrounding countries presents a strategic opportunity to attractinvestment to Syria's industrial cities. However, industrial projects typicallyrequire five to ten years to recover invested capital, while importing cangenerate profits within about six months.

Syria's industrial cities were built by Syrian expertise andcontinue to serve investors efficiently, while exports from those cities toneighboring markets remain very limited because imported goods continue todisplace locally manufactured products.

He also pointed to challenges facing the jointSyrian-Jordanian industrial zone, with restrictions imposed by both countrieshaving undermined its performance. “Syria imposes unjustified fees on rawmaterials, while Jordan applies strict scrutiny to import and export invoices.”

According to Orfali, the reopening of border crossings haslargely benefited regional countries, arguing that high Turkish customs dutieson Syrian products, along with higher tariffs and stricter import proceduresimposed by nearby states, have allowed imports to outpace exports and createdmajor obstacles for Syrian industrial exports. Efforts areunderway to develop industries tailored to the needs of neighboring markets.

“Investors ultimately follow financial returns … unless investment conditions improve in Syria, businesses will continueimporting rather than manufacturing them locally.”

Shafaq News

Gold priceswere on track for a ‌fourth consecutive weekly fall on Friday, as a resilientdollar and expectations of faster U.S. rate hikes to tame inflation keptbullion pressured near the key $4,000-per-ounce level.

Spot gold was steadyat $4,027.91 ​per ounce, as of 0752 GMT. U.S. gold futures for August delivery​edged 0.1% lower to $4,043.40.

"The rapidrepricing of the hawkish Fed created ​a strong bullish momentum in the U.S.dollar, which eventually led to this significant downward drift in goldprices," said Kelvin Wong, a senior market analyst at OANDA.

The U.S. dollarindex was ​headed for a second consecutive weekly gain, making gold moreexpensive for holders ​of other currencies.

Wong sees themulti-month correction in gold, since the record high reached in ‌late January,⁠extending towards $3,400 in the long term.

Gold priceshave fallen about 29% from the record high of $5,594.82 on January 29, asinflation fuelled by the U.S.-Iran war ramped up rate-hike bets.

Data onThursday showed that U.S. inflation increased further in May, breaking ​above4.0% for the ​first time in ⁠three years, as forecast by economists surveyedby Reuters.

Although goldis typically viewed as a hedge against inflation, it tends ​to lose its appealas a non-yielding asset in a ​high-interest-rate environment.

Traders ⁠expect three Fed rate hikes this year and are pricing in about a 64%chance of a September increase, according to the CME FedWatch Tool. FEDWATCH/

Among othermetals, spot ⁠silver edged ​0.1% lower to $57.80 per ounce, platinum lost0.3% ​to $1,605.18, while palladium gained 1.4% to $1,200.75. All metals wereheaded for a weekly loss.

(Reuters)

Only the headline isedited by Shafaq News Agency.