Oil continues to lose as tension in the Middle East eases, 20 APRIL

 Oil continues to lose as tension in the Middle East eases

Economy | 04/18/2024   Mawazine News – Baghdad  Oil prices fell, on Thursday, to their lowest level in three weeks, continuing their losses amid hopes for a decline in tension in the Middle East, which is one of the most important crude producing regions, while investors’ focus shifts to expectations of a decline in demand.

Brent crude futures fell only 60 cents, or 0.7 percent, to $86.69 per barrel, while US West Texas Intermediate crude futures fell 53 cents, or 0.6 percent, to $82.16 per barrel. Both declined for the fourth session in a row.

Prices fell by more than a dollar at their lowest levels during the session, and have also fallen by about four percent since the beginning of the week.

Investors are reducing the geopolitical risk premium on oil prices amid expectations that international pressure will succeed in curbing the severity of any Israeli response to the attack launched by Iran on April 13.

Ole Hvalby, commodity analyst at SEB Research, told Reuters that any new Western sanctions on Iran could be offset by increased production from other oil-producing countries, and their impact may be limited without Chinese cooperation.

According to Reuters data, Iran is the third largest crude producer in the Organization of the Petroleum Exporting Countries (OPEC), and a decline in the intensity of its conflict with Israel would reduce the possibility of supply disruption.

Analysts at JP Morgan highlighted in a note issued late Tuesday that global oil consumption since the beginning of April is 200,000 barrels per day less than expected, with an average of 101 million barrels per day.

The rise in US crude inventories also suppressed prices. The US Energy Information Administration said on Wednesday that crude oil inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, compared to analysts’ expectations in a Reuters poll that inventories would increase by 1.4 million barrels.

Inventories rose with a decrease in refinery consumption at a time that usually witnesses an increase in refining activity in preparation for increased summer demand in the United States. https://www.mawazin.net/Details.aspx?jimare=246211

 

"RV UPDATE" BY PIMPY, 20 APRIL

 Pimpy

   Article quote:  "Removing zeros off the Iraqi Dinar can indeed impact liquidity issues in Iraq.  By re-denominating the currency and removing zeros, the Central Bank of Iraq aims to reduce transaction costs and make it easier for people to carry less physical money.  

With a lower denomination, larger amounts can be replaced with fewer notes...This can potentially enhance liquidity management within the country's financial system."  So the deletion of the zeros could help Iraq with their liquidity issues...

What is the deletion of zeros of currency? 

 An action aimed at increasing the nominal value of money.  Nominal value, NOT the exchange rate. Re-denomination, that's what this is.  What is lopping off zeros?  Same thing.  Changes the nominal value.  What is the removal of zeros off currency?  ...Also known as deleting of the zeros...Re-denomination. 

 What is reducing of zeros off currency? 

 Re-Denomination. I'm telling you guys all those things are the same thing...You remove the zeros off the currency and when you do that .00076 will be .76 but it doesn't change the value of your currency versus other world currencies.  That stays the same.

Breaking News: Huge Partnership Deals Signed 🔥 News Guru Update Value IQ...

"THE NEED TO RAISE THE DOLLAR EXCHANGE RATES IN THE IRAQI MARKETS" BY GODILOCKS, 19 APRIL

 GOLDILOCKS

"A member of the parliamentary finance committee Adnan Al-Zarfi stressed on Friday the need to raise the dollar exchange rates in the Iraqi markets, while pointing out that America is pressing Iraq to reform the victory."

Let's take a closer look at this article. The recommendation to raise the Dollar rate in Iraq "again" is a statement that holding the Iraqi Dinar price down is getting more difficult. 

The article goes on to say that keeping the Iraqi Dinar on a programmed rate is no longer profitable or to their advantage. 

Moving forward with their banking reforms is currently on the table.

© Goldilocks 

https://search4dinar.wordpress.com/2024/04/19/parliaments-finance-advises-raising-exchange-rates-again-money-about-oil-revenues/

https://www.reuters.com/plus/how-a-strong-dollar-affects-international-currencies-and-commodities

"RV UPDATE" BY BRUCE, 19 APRIL

 Bruce  

[via WiserNow] 

  We know that we have been close for this going...individual coming from Europe, is saying that...we should be receiving our emails Saturday, Sunday or Monday...So that's...from this Wells Fargo Bond Paymaster... 

Now...a couple of other individuals that are older and have worked in some capacity with the Reagan Treasury and administration... They...say that in their opinion,  we are going to receive our emails, either [Friday] or Saturday and then we'll exchange according  based on whenever we received those emails...and then finally we go to a bank that we’ve all heard of – 

not one of the Big 4 – but this particular bank is saying that we would be notified over the weekend  which included Friday Saturday or Sunday...we'll see what happens over this weekend.

Iraqi Dinar🔥Al Sudani Unfolding The Mystery Today 2024🔥iraqi dinar news🔥...

The Chairman of the Investment Authority signs the United Nations Convention on International Mediation, 19 APRIL

 The Chairman of the Investment Authority signs the United Nations Convention on International Mediation

Chairman Of The National Investment Authority, Haider Makkiya

Economy News – Baghdad   On Thursday, Chairman of the National Investment Authority, Haider Muhammad Makkiya, signed the United Nations Convention on International Mediation, known as the “Singapore Convention,” in New York City, noting that this agreement is a tool for facilitating international trade and promoting mediation.

Makiya said in his speech during the signing ceremony, which took place in coordination with the Iraqi representation at the United Nations, and was reviewed by Al-Iqtisad News, that “it is important to activate the Republic of Iraq’s accession to the Singapore Agreement on Mediation and International Investment Disputes, in accordance with the provisions of Law No. (14) of 2021.”

Referring to Cabinet Resolution No. (24203) of 2024 ratifying the International Commercial Arbitration Law, which included international standards for international commercial arbitration, stressing “the position of this agreement within the framework of enhancing the Iraqi investment reality.”

He added, "Iraq includes many international and qualitative strategic investment opportunities, the reality of which requires contracting with foreign companies specialized in investment, and what it requires to provide legal protection for companies, in the event of disputes arising from contracts concluded by state institutions with these foreign companies that prefer to resort to... International arbitration to guarantee its rights, as stipulated in Article (27/First) of Investment Law No. 13 of 2006, as amended.”

Makiya continued, "This agreement is a tool for facilitating international trade and promoting mediation, as well as being an alternative and effective method for settling commercial disputes," noting that "the agreement will contribute to achieving sustainable development goals and encouraging the increasing use of mediation as an effective means of settling cross-border disputes for the purpose of preserving Commercial relations between the parties involved in the investment process.”

The head of the authority continued, “The agreement has a pivotal dimension due to its importance and the existence of several justifications for joining it, most notably finding an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment through commercial mediation regulated by the provisions of this agreement,

 especially since the Republic of Iraq joined in the year 2015 to the International Center for Settlement of Investment Disputes between States and Nationals of Other States, which gives foreign investors the right to resort to the Washington Center.

He stated, "Iraq's accession to the Singapore Mediation Agreement is necessary to attract investments and achieve economic development purposes, especially in light of the transformation and adoption of a free market economy as an economic system for the country, in addition to referring many strategic projects to foreign companies and investors," pointing out, "

A specialized program has been prepared for introductory workshops that the Authority will hold for all ministries and state institutions to educate their legal departments about the legal impact of this agreement, in cooperation with the UNDP.”

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