Iraq Financial News

Middle East, which has created significant uncertainty in financial markets. The week began with a slight dip in COMEX gold prices, but a remarkable one-sided rally ensued.

₹7,357 per bbl, having swung between ₹7,317 and ₹7,474 per bbl during the session so far, against a previous close of ₹7,330 per barrel. Also Read: Indian crude basket to average $87/bbl, OMCs to bear the brunt as oil surges 6% over Israel-Hamas war -Supporting oil prices were wide forecasts of a tightening market in the fourth quarter after top producers Saudi Arabia and Russia extended supply cuts of around 1.3 million barrels per day (bpd) till the end of the year.

war against the barbaric Hamas, while trying to reach out to moderate Palestinians. Biden, I know, tried really hard to get Israeli leaders to pause in their rage and think three steps ahead — not only about how to get into the Gaza Strip to take down Hamas but also about how to get out — and how to do it with the fewest civilian casualties possible. While the president expressed deep understanding of Israel's moral and strategic dilemma, he pleaded with Israeli military and political leaders to learn from America's rush to war after 9/11, which took our troops deep into the dead ends and dark alleys of unfamiliar cities and towns in Iraq and Afghanistan. However, from everything I have gleaned from senior U.S. officials, Biden failed to get Israel to hold back and think through all the implications of an invasion of Gaza for Israel and the United States. So let me put this in as stark and clear language as I can, because the hour is late: I believe that if Israel rushes headlong into Gaza now to destroy Hamas — and does so without expressing a clear commitment to seek a two-state solution with the Palestinian Authority and end Jewish settlements deep in the West Bank — it will be making a grave mistake that will be devastating for Israeli interests and American interests. It could trigger a global conflagration and explode the entire pro-American alliance structure that the United States has built in the region since Henry Kissinger engineered the end of the Yom Kippur War in 1973.

Israel-Hamas war. Armed factions close to Iran have threatened to attack US interests in Iraq over Washington's support for Israel since Hamas militants killed more than 1,400 people in a shock cross-border attack from Gaza on October 7. Israel's retaliatory bombardment of Gaza has killed more than 4,100 people, according to its Hamas-controlled health ministry. «We can confirm a rocket attack on US and coalition forces at the Baghdad diplomatic support centre, near the Baghdad international airport, occurred Friday at approximately 2:50 am» (2350 GMT Thursday), a Pentagon official said. «Initial assessments indicate two rockets were fired. One was intercepted by acounter-rocket system and the other impacted an empty storage facility.

Israel Thursday and American bases in Iraq and Syria were repeatedly targeted by drone attacks.The USS Carney, a Navy destroyer in the northern Red Sea, intercepted three land attack cruise missiles and several drones that were launched by Houthi forces in Yemen. The action by the Carney potentially represented the first shots by the U.S. military in the defense of Israel in this conflict.Brig.

exports which are showing resilience. During January to July 2023, 48 commodities saw significant increase in exports, as per an analysis by MVIRDC WTC Mumbai.

Israeli airstrikes in Gaza City targeted the residence of Ismail Haniyeh, the senior political figure of Hamas, resulting in the reported deaths of at least 14 individuals. 1) Coalition forces were slightly injured in Iraq in a spate of drone attacks over the last 24 hours at US bases in Iraq as regional tensions flare following the deadly explosion at a hospital in Gaza. 2) Two drones targeted the al Asad airbase in western Iraq used by US forces and one drone targeted a base in northern Iraq, a US official told The Associated Press. 3) This came after Iranian-backed militias in Iraq threatened to attack U.S.

By Katya Golubkova

As the Israel Defense Forces prepare to move into Gaza to destroy Hamas, one truth cuts through the fog: The greatest obstacle to peace in the Middle East is the Islamic Republic of Iran. When I worked for President George W. Bush, he would remind us that al Qaeda was at war with America long before we were at war with them.

Jumma (Friday), but decided against it as a result of some “back door diplomacy". By killing innocent hostages, Hamas could risk losing support in the Islamic world. Millions had taken to the streets in Jordan’s capital Amman after Friday prayers to protest against the bombardment of Gaza.

BEIRUT (Reuters) — Reuters visuals journalist Issam Abdallah, 37, who was killed on Friday while filming Israeli missile attacks at the Israeli-Lebanon border, brought courage, compassion and insight to his work covering some of the biggest news stories of the past decade.

oil prices held steady near $85 a barrel, but traders remain cautious following the eruption of violence between Israel and Hamas, which could potentially disturb the oil supply chain in the Middle East. Prices clocked one-year highs at the end of September, driven by worries about supply shortages after a surprise extension of voluntary supply cuts by Saudi Arabia and Russia, but the momentum was short-lived. An unexpected buildup in US crude inventories and concerns over demand adversely hit the sentiments. However, extreme uncertainty prevails in the global oil market as the ongoing clash between Israel and Hamas sparks fears that the turmoil could spread across West Asia and threaten the world’s oil supply. The direct impact on oil prices is limited, as neither Israel nor Gaza produces significant amounts of oil.

President Biden on Tuesday showed appropriate outrage at the wanton slaughter by Hamas this weekend, and his pledge of support for Israel is welcome. But there was a crucial word missing from his remarks at the White House: Iran. Tehran is Hamas’s terror master, and its assault on Israel exposes the failure of his Iran strategy.

Reuters reported. Peskov also cautioned that the conflict had the potential to spread to neighbouring regions. Also Read:Israel-Hamas War LIVE Updates: Palestinians struggle for safety as Israel pounds sealed-off Gaza Strip During talks with Iraqi Prime Minister Mohammed Shia Al-Sudani, Putin took the chance to link the considerable increase in violence to the United States' long-standing policy in the region.

Gaza border areas from Hamas militants as the war's death toll passed 3,000 on Tuesday, the fourth day of fierce fighting since the Islamists launched a surprise attack. Prime Minister Benjamin Netanyahu has warned Israel's military campaign following Saturday's onslaught was only the start of a sustained war to destroy Hamas and «change the Middle East». Fears of a regional conflagration have surged amid expectations of a looming Israeli ground incursion into Gaza, the crowded enclave from where Hamas launched its land, air and sea attack on the Jewish Sabbath. The death toll in Israel has surged above 900 from the worst attack in the country's 75-year history, while Gaza officials have reported 765 people killed so far. Hamas gunmen killed more than 100 people in the kibbutz of Beeri alone, said Moti Bukjin, a volunteer with the charity Zaka that recovers bodies in accordance with Jewish law.

Syria's defence minister left a graduation ceremony there. Civilians and military personnel were killed in the attack on the military academy in the central province of Homs, Syria's defence ministry said in a statement, adding «terrorist» groups had used drones to carry it out.

By Timour Azhari

World Bank expects Saudi Arabia's economy to contract by 0.9% in 2023, it said in a report on Thursday, revising its growth forecast for the world's top oil exporter sharply lower on the back of production cuts and lower prices. Overall growth in the Middle East and North Africa (MENA) region is also expected to slow, now forecast at 1.9% in 2023, down from 6% last year and lower than the 3% the World Bank forecast in April. Saudi Arabia, the Arab world's largest economy, has cut its oil production in a preemptive move it says is intended to stabilise the oil market. Oil prices remain below last year's average of $100 a barrel. The Saudi government expects GDP growth to slow to 0.03% in 2023, from 8.7% last year, according to revised forecasts released by the finance ministry last week, narrowly avoiding a contraction. The World Bank's latest economic update, released on Thursday, attributed the «abrupt decrease» in Saudi economic activity to «lower oil production levels amidst subdued prices.» It had forecast Saudi GDP growth at 2.9% in 2023 in its April update. Growth for the six-member Gulf Cooperation Council (GCC) of oil and gas exporters is expected to decelerate to 1% in 2023, down from 7.3% last year, and sharply below the 3.2% forecast in the World Bank's April update.

European Union countries have overcame a new obstacle in their yearslong quest to overhaul the bloc’s asylum rules

By Laura Sanicola and Muyu Xu

By Natalie Grover