Iraq Economic News and Points To Ponder Friday Morning 7-10-26
Israel Warns US Of Alleged Iranian Assassination Plot Targeting Trump
2026-07-10 02:59 Shafaq News- Washington Israel has shared intelligence with the United States indicating that Iran is preparing a new plot to assassinate US President Donald Trump, The Wall Street Journal reported on Thursday.
The report did not specify when or through which channel the intelligence was passed to Washington, nor did it disclose further details about the alleged plot.
According to the newspaper, calls for Trump's assassination resurfaced during funeral ceremonies for Iran's late Supreme Leader Ayatollah Ali Khamenei, who was killed in US-Israeli strikes on Iran in late February.
Trump has survived several assassination attempts or alleged plots over the past two years. He was wounded in the ear during a shooting at a campaign rally in Pennsylvania on July 13, 2024, while another suspected attempt was foiled at his golf club in Florida on Sept. 15, 2024.
Most recently, US Secret Service agents arrested a suspect before an armed attack could target the White House Correspondents' Association dinner on April 25, an event attended by Trump and senior members of his administration.
Oil Advances As Middle East Tensions Support Prices
2026-07-10 03:37 Shafaq News Oil prices edged higher on Friday and were set for weekly gains because of renewed fears of supply disruptions from the key Middle East producing region after renewed fighting between the U.S. and Iran this week curtailed shipping in the Strait of Hormuz.
Brent futures were up 4 cents, or 0.05%, at $76.34 a barrel by 0319 GMT. U.S. West Texas Intermediate (WTI) crude gained 7 cents, or 0.10%, to $72.15.
For the week, Brent was set for a gain of about 6% and WTI was headed for about a 5% increase.
"Prices have backed off the mid-week highs, but there is still a substantial risk premium as Hormuz transits are back to a near-standstill with no clear signs on when normal reopening might resume," said Vandana Hari, founder of oil market analysis provider Vanda Insights.
"However, it looks like market confidence in the U.S. and Iran returning to diplomacy to resolve the issue is capping the upside," Hari added.
Iranian armed forces launched attacks on U.S. military infrastructure in Gulf states on Thursday following U.S. strikes on Iran's southern coastal and eastern provinces, further straining a three-week-old ceasefire. Separately, Iranian media reported multiple explosions across southern Iran, including Bushehr, where one of the country's nuclear plants is located.
The renewed fighting came the day that Iran buried its slain supreme leader, Ayatollah Ali Khamenei, the culmination of a week of mass funeral processions and rallies. Khamenei was killed on the first day of the war on February 28.
The renewed fighting has delayed the full reopening of the Strait of Hormuz, which carried about 20% of daily global oil and gas supplies before the war.
Tanker traffic through the strait on Thursday was at a near standstill, according to ship-tracking data, as vessel owners assessed the risk from the latest strikes, which started after Iran hit a Qatari LNG ship exiting the waterway near Oman.
Still, U.S. President Donald Trump said on Wednesday he did not think the war would restart because of the new fighting and that "anything that happens is going to be over very quickly."
"Despite the U.S. ramping up attacks on military sites in Iran, the market drew some reassurance from the Trump administration’s decision to avoid targeting Iranian energy infrastructure," said Daniel Hynes, senior commodity strategist for ANZ bank.
"This was aided by comments from President Trump, who said he doesn’t expect a return to a full-scale conflict."
(REUTERS) https://www.shafaq.com/en/Economy/Oil-advances-as-Middle-East-tensions-support-prices
Gold Slips On Inflation Fears Tied To US-Iran Conflict
2026-07-10 01:16 Shafaq News Gold edged lower on Friday and was on track for a weekly fall on concerns that escalating U.S.-Iran tensions could fuel inflation and keep the Federal Reserve on a hawkish monetary policy path.
Spot gold fell 0.2% to $4,113.29 per ounce by 0426 GMT and was headed for a 1.5% weekly decline. U.S. gold futures for August delivery fell 0.4% to $4,122.70.
"Gold is in consolidation mode today following yesterday's gains, with traders hesitant to commit to further upside amid the prevailing uncertainty over US-Iran relations," said Tim Waterer, chief market analyst at KCM Trade.
Oil prices were on track for a weekly gain as the U.S. and Iran continued to trade strikes, with Iranian armed forces launching attacks on U.S. military infrastructure in Gulf states on Thursday following U.S. strikes on Iran's southern coastal and eastern provinces.
The latest round of strikes has fuelled inflation concerns and reinforced the probability of the Fed raising rates this year.
Markets are pricing in a 63% chance of a September rate hike, up from around 54% a week earlier, according to CME's FedWatch tool.
While gold is typically seen as a hedge against inflation, it loses its appeal as a non-yielding asset in a high-interest-rate environment.
"I expect gold will continue to attract buyers on dips as long as oil stays around current levels. However, any sharp spike in oil could reignite inflation and interest rate fears, which would be to gold's detriment," Waterer said.
Minutes of the Fed's June meeting, released earlier this week, showed growing concerns among policymakers about elevated inflation.
HSBC cut its average gold price forecasts for 2026 and 2027 on Thursday, citing a hawkish shift in U.S. monetary policy expectations and a stronger dollar.
Elsewhere, spot silver rose 0.6% to $60.34 per ounce, platinum gained 1.4% to $1,632.16 and palladium climbed 1.6% to $1,267.71. All three metals were on track for a weekly loss.
(REUTERS) https://www.shafaq.com/en/Economy/Gold-slips-on-inflation-fears-tied-to-US-Iran-conflict
Ports: Port Of Umm Qasr Initiates Transit Procedures For UAE Aid To Lebanon With Transit System
Money and business Economy News — Baghdad The Border Ports Authority announced on Friday the completion of the necessary procedures for the transit of trucks loaded with food coming from the United Arab Emirates to Lebanon through Iraqi territory with the transit system.
A spokesman for the Border Ports Authority, Aladdin Al-Qaisi, said that "in implementation of the directives of Prime Minister Ali Faleh Al-Zaidi and under the supervision of the head of the Border Ports Authority, Lieutenant General Omar Al-Waeli, the Directorate of the northern port of Umm Qasr has begun to complete all the necessary procedures for the passage of trucks loaded with food as humanitarian aid from the United Arab Emirates to the Republic of Lebanon."
He added that "the passage of these trucks is in accordance with the transit system through Iraqi territory to the Lebanese territory." https://www.economy-news.net/content.php?id=71176
Gold Is Heading For A Weekly Decline Amid Expectations Of A US Interest Rate Hike
Money and business Economy News - Follow-up Gold prices were little changed at the start of trading on Friday, as markets assessed the inflation risk caused by the latest military escalation between the United States and Iran and renewed expectations of a rise in interest rates prompted the metal that does not generate a return towards a weekly decline.
By 00:47 GMT, the spot price of gold had stabilized at $4122.09 an ounce, heading for a weekly loss of more than 1%. U.S. gold futures for August delivery fell 0.2 percent to $4,131.50.
Iran’s armed forces launched attacks on U.S. military infrastructure in Gulf countries on Thursday following U.S. strikes on coastal areas in southern and eastern Iran, putting more pressure on the ceasefire that was reached three weeks ago.
The latest round of strikes has fueled concerns about inflation and reinforced the prospect of the Federal Reserve raising U.S. interest rates this year.
According to C.C.'s Fed Watch tool. M. The markets see a 64% chance of a rate hike in September, compared to 54% a week ago.
The minutes of the Federal Reserve’s June meeting showed growing concerns among monetary policymakers about rising inflation, with a few saying interest rate hikes were warranted.
John Williams, chairman of the Federal Reserve Bank of New York, ruled out a sustained rise in energy prices for the rest of the year despite renewed hostilities in the Middle East.
The number of Americans filing for unemployment benefits fell last week, suggesting the labor market remained stable despite slowing job growth in June.
For other precious metals, spot silver fell 0.1% to $59.94 an ounce, platinum rose 0.2% to $1,614.22, and palladium rose 0.4% to $1,252.75. The three metals are heading for a weekly loss https://www.economy-news.net/content.php?id=71179