Oil Prices Plunge 6% On US-Iran Deal Progress

2026-05-25    Shafaq News   Oil prices fell 6% to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds over key issues, such as blockades on the Strait of Hormuz.

Brent crude futures fell $5.85, or 5.7%, to $97.69 a barrel by 0343 GMT, while U.S. West Texas Intermediate were at $90.85 a barrel, down $5.75, or 6%. Both contracts touched their lowest since May 7 earlier in the session.

Iraq And Saudi Arabia Strengthen Their Partnership In Combating Corruption And Recovering Stolen Funds.

Money and Business   Economy News – Baghdad    The Federal Integrity Commission and the Oversight and Anti-Corruption Authority in the Kingdom of Saudi Arabia discussed on Monday mechanisms to enhance cooperation in the field of asset recovery and corruption crimes.

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Global Reset Signals Intensify as Hormuz Deal Hopes Shake Oil, Currency, and Financial Markets

Growing optimism around a possible U.S.–Iran framework agreement is already reshaping oil prices, currency markets, and global financial expectations as investors brace for a major geopolitical and economic transition.

The Dinar Is Under Test During Crises... Will The Central Bank Succeed In Protecting The Market From Economic Storms?

Baghdad Today – Baghdad   Economic and financial affairs expert Nasser Al-Tamimi confirmed on Sunday (May 24, 2026) that the ability of the Central Bank of Iraq to stabilize the exchange rate of the dinar is directly linked to the size of foreign reserves and the efficiency of monetary policy management.

Al-Tamimi told Baghdad Today that the Central Bank currently has effective tools to contain pressures on the market, most notably managing the currency sale window, regulating foreign transfers, and direct intervention through cash reserves.

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China Expands Influence Through Iran Peace Push and Multipolar Strategy

Beijing uses Pakistan mediation, energy diplomacy, and BRICS expansion to position itself as a central power in the emerging global order.

Iraq Is Part Of A $700 Million International Cable Project Linking The Gulf To Europe.

Money and Business   Economy News – Baghdad   A report issued by S&P Global Market Intelligence revealed that Iraq will be part of the international cable project "WorldLink", which aims to create a new digital corridor linking the Gulf region to Europe via Iraqi territory, as part of a global expansion wave in submarine cable and data transmission projects.