War Shock: Oil Nears $120 Mark

2026-03-09   Shafaq News   Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies, boosted the dollar and dampened hopes of interest-rate cuts.

Good Afternoon Dinar Recaps,

Bond Market Shock and Global Debt Surge Raise New Risks for the Financial System
Rising sovereign borrowing and volatile bond markets are emerging as major stress points for the global financial architecture

The Central Bank Of Iraq: Our Reserves Cover 12 Months Of Imports, And We Are Exploring Alternatives To Secure Salaries

Baghdad – One News     3/08/2026  The Central Bank of Iraq confirmed the strength of foreign reserves, noting that they cover about 12 months of imports, reflecting the stability of the country’s financial situation.

 The bank explained that it is prepared to face any potential economic fluctuations, while continuing to support bank liquidity and ensure the smooth flow of foreign transfers.  He also noted that a number of alternatives and measures were discussed that would ensure the securing of salaries and basic expenses during the coming months.

Good Morning Dinar Recaps,

Oil Shock, Sanctions Shifts, and Economic Weakness: New Developments Signal Stress in the Global Financial System
Energy market disruption and policy shifts in the last 24 hours highlight growing cracks in the current global economic order.

Fearing They Will Be Targeted By Bombing, Kuwaiti Banks Are Closing Their Branches In High-Rise Towers.

banks    Economy News — Follow-up   Several Kuwaiti banks and companies announced on Sunday the temporary closure of their headquarters located in high-rise towers, following a fire that broke out on the upper floors of the Public Institution for Social Security tower as a result of it being targeted by an Iranian drone, according to what was reported by media outlets and official platforms.

Iraq And The Risks Of Closing The Strait Of Hormuz: Financial Repercussions And Strategic Options 

Economy News – Baghdad   Dr. Haitham Hamid Mutlaq Al-Mansour / Economist

In a report published by Reuters this week, JPMorgan warned that the continued closure of the Strait of Hormuz would place significant pressure on oil exports from Iraq and Kuwait, potentially forcing both countries to reduce their production in the near future.

This warning comes amid the strategic importance of the strait, which connects the Gulf to the Gulf of Oman and the Arabian Sea, and through which approximately 20% of global oil and liquefied natural gas trade passes, making it one of the most vital energy arteries for the international economy.

Good Morning Dinar Recaps,

U.S. Signals Possible Russian Oil Sanctions Relief as Global Energy Markets Tighten
Energy shock from the Strait of Hormuz disruption forces Washington to reconsider supply restrictions.

Overview
• Treasury Secretary Scott Bessent signaled the U.S. could ease sanctions on additional Russian oil to stabilize global energy markets.

Border Crossings: We Will Not Be Affected If Any Seaport Is Shut Down.

Money and Business      Economy News – Baghdad   The head of the Border Ports Authority, Lieutenant General Omar Al-Waeli, confirmed on Saturday that the border ports will not be affected if any sea port stops operating, as there are alternatives. He also indicated that the Authority's staff have begun bringing in all containers to supply the Iraqi market with goods around the clock.

Good Afternoon Dinar Recaps,

Crypto Firms Move Into the U.S. Banking System as Financial Architecture Begins to Shift

Dozens of fintech and crypto companies are racing for banking licenses and direct payment system access — a development that could reshape the structure of global finance.

Overview

A quiet but significant transformation is underway inside the U.S. financial system.

In just 83 days, at least eleven financial and crypto companies have applied for or received approvals for U.S. national trust bank charters, signaling a rapid convergence between traditional banking and digital asset infrastructure.