Iraq Economic News And Points To Ponder Wednesday Morning 4-22-26
Oil Prices Hold Steady Through US-Iran Ceasefire Uncertainty
2026-04-22 Shafaq News Oil prices were largely flat on Wednesday after rising about $1 at the start of Asian trading, with investors assessing the outlook for U.S.-Iran peace talks following the U.S. extension of a ceasefire.
Brent crude futures were up 3 cents, or 0.02%, at $98.51 a barrel at 0438 GMT, after touching $99.38 per barrel earlier in the session. West Texas Intermediate futures were down 13 cents, or 0.14%, to $89.53 after climbing as high as $90.71 at the open.
Both benchmark contracts rose about 3% on Tuesday.
U.S. President Donald Trump said he would indefinitely extend the ceasefire with Iran, hours before its expiry, to allow talks to continue to end a war that has killed thousands and shaken the global economy.
The move appeared unilateral, and it was not immediately clear whether Iran, or U.S. ally Israel, would agree to extend the truce, which began two weeks ago.
"With the outcome of talks still unclear and the Strait of Hormuz closed, the market lacks clear direction," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities.
"Unless fighting resumes, prices are likely to stay near the current levels for now," Kikukawa said.
Trump also said the U.S. Navy would maintain its blockade of Iran's ports and shore, which Iranian leaders have called an act of war.
There was no immediate comment from Iran's most senior leaders on Trump's ceasefire extension. Tasnim News Agency, affiliated with Iran's Revolutionary Guards, said Iran had not asked for the extension and repeated its position of breaking the U.S. blockade by force.
Shipping traffic through the Strait of Hormuz, which normally channels about 20% of global oil and liquefied natural gas supplies, remained broadly halted on Tuesday with only three ships passing along the waterway in the past 24 hours, shipping data showed.
Elsewhere, the Israeli military said Hezbollah fired rockets at its troops in southern Lebanon, accusing the Iran-backed group of violating a ceasefire ahead of U.S.-mediated talks with Lebanon this week. There was no immediate comment from Hezbollah.
In Europe, Ukrainian President Volodymyr Zelenskiy said the Druzhba oil pipeline pumping Russian oil onto the continent is ready to resume operation. Three industry sources, however, said Russia is set to stop oil exports from Kazakhstan to Germany via the Druzhba pipeline starting on May 1.
Later on Wednesday, the U.S. Energy Information Administration will publish inventory data.
U.S. crude oil inventory fell by 4.5 million barrels last week after three weeks of gain, while gasoline and distillate stock also declined, market sources said, citing American Petroleum Institute figures on Tuesday.
Analysts estimated a 1.2 million-barrel draw of crude for the week ended April 17.
(Reuters) https://www.shafaq.com/en/Economy/Oil-prices-hold-steady-through-US-Iran-ceasefire-uncertainty
Basrah Crudes Drop With A Global Decline
2026-04-22 Shafaq News– Basrah Iraq’s Basrah crude recorded slight losses on Wednesday, with prices easing by around 2% amid a broader downturn in global oil markets. Basrah Heavy crude fell $1.13 to $112.50 per barrel, and Basrah Medium crude declined $1.13, reaching $114.60 per barrel.
Brent crude dropped 3 cents, or 0.02%, to $98.51 per barrel. US West Texas Intermediate (WTI) slid 13 cents, or 0.14%, to $89.53.https://www.shafaq.com/en/Economy/Basrah-crudes-drop-with-a-global-decline-0
USD/IQD Exchange Rates Tick Up In Baghdad And Erbil
2026-04-22 Shafaq News- Baghdad/ Erbil The US dollar opened Wednesday’s trading higher in Iraq, hovering around 155,000 dinars per 100 dollars. According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,750 dinars per 100 dollars, up from the previous session’s 154,100 dinars.
In the Iraqi capital, exchange shops sold the dollar at 155,250 dinars and bought it at 154,250 dinars, while in Erbil, selling prices stood at 154,500 dinars and buying prices at 154,350 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-tick-up-in-Baghdad-and-Erbil
Gold Prices Drop In Baghdad, Stabilize In Erbil
2026-04-22 Shafaq News- Baghdad/ Erbil On Wednesday, gold prices hovered around 1.03 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1.035 million IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1.031 million IQD. The same gold had sold for 1.047 million IQD on Tuesday.
The selling price for 21-carat Iraqi gold stood at 1.005 million IQD, while the buying price reached 1.001 million IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1.035 million and 1.045 million IQD, while Iraqi gold sold for between 1.005 million and 1.015 million IQD.
In Erbil, 22-carat gold was sold at 1.078 million IQD per mithqal, 21-carat gold at 1.030 million IQD, and 18-carat gold at 883,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-drop-in-Baghdad-stabilize-in-Erbil-9-5
Iraq Rebuts Claims Of Suspended Us Dollar Shipments
2026-04-22 Shafaq News- Baghdad Iraq has received no official notice indicating a halt in US dollar shipments, an economic expert told Shafaq News on Wednesday, stressing that no supporting information appears on the US Treasury’s website.
According to Mahmoud Dagher, former Director General at the Central Bank of Iraq (CBI), the rumors are being amplified by parties seeking to take advantage of the current media environment as political negotiations over government formation continue.
“While the speculation may weigh on public sentiment, it has not driven any unusual swings in the exchange rate,” he added, noting that current fluctuations remain within a normal range typically associated with periods of regional tension.
Dagher further indicated that physical dollar shipments arriving by air from the United States account for only about 7% of Iraq’s daily dollar needs, while most demand is covered through banking channels and transfers used to finance imports.
Stressing that dollar liquidity remains sufficient to support trade and meet seasonal demand, including that of pilgrims, he described the overall financial situation as relatively stable despite ongoing geopolitical pressures.
Earlier today, the Wall Street Journal reported that the United States blocked the transfer of roughly $500 million in Iraqi oil revenues to Baghdad, pointing to US dissatisfaction over Iraq’s “slow progress” in curbing Iran-aligned armed factions. https://www.shafaq.com/en/Economy/Iraq-rebuts-claims-of-suspended-US-dollar-shipments
Iraq Rebuts Claims Of Suspended US Dollar Shipments
2026-04-22 Shafaq News- Baghdad Iraq has received no official notice indicating a halt in US dollar shipments, an economic expert told Shafaq News on Wednesday, stressing that no supporting information appears on the US Treasury’s website.
According to Mahmoud Dagher, former Director General at the Central Bank of Iraq (CBI), the rumors are being amplified by parties seeking to take advantage of the current media environment as political negotiations over government formation continue.
“While the speculation may weigh on public sentiment, it has not driven any unusual swings in the exchange rate,” he added, noting that current fluctuations remain within a normal range typically associated with periods of regional tension.
Dagher further indicated that physical dollar shipments arriving by air from the United States account for only about 7% of Iraq’s daily dollar needs, while most demand is covered through banking channels and transfers used to finance imports.
Stressing that dollar liquidity remains sufficient to support trade and meet seasonal demand, including that of pilgrims, he described the overall financial situation as relatively stable despite ongoing geopolitical pressures.
Earlier today, the Wall Street Journal reported that the United States blocked the transfer of roughly $500 million in Iraqi oil revenues to Baghdad, pointing to US dissatisfaction over Iraq’s “slow progress” in curbing Iran-aligned armed factions.
https://www.shafaq.com/en/Economy/Iraq-rebuts-claims-of-suspended-US-dollar-shipments
Israel Signals ‘Optimism’ For Upcoming Lebanon Talks
2026-04-22 Shafaq News- Middle East Israel has no “serious disagreements” with Lebanon, Foreign Minister Gideon Saar stated on Wednesday ahead of the next round of talks between Beirut and Tel Aviv scheduled for tomorrow in Washington.
In a statement, Saar characterized Israel’s decision to negotiate directly with Beirut as historic, adding that Lebanon remains a “failed state” under Iranian influence through Hezbollah. Noting that only a few minor border disputes persist and could be resolved, he indicated that Hezbollah continues to stand as “the main obstacle to peace and normalization.”
Thursday’s meeting will mark the second round of ambassador-level talks between Lebanon and Israel, following an initial session on April 14 that represented the first such contact since 1993. The negotiations take place under a US-brokered ceasefire that came into effect on April 17 for an initial 10-day period, with the option of extension by mutual agreement. Under its terms, Beirut must prevent attacks against Israel and ensure its official security forces serve as the sole authority responsible for security, while Israel retains the right to act in “self-defense.”
Despite the ceasefire, Lebanon’s National Council for Scientific Research has documented around 220 Israeli violations, including airspace breaches, artillery fire, airstrikes, and ground activity.
Since hostilities between Israel and Hezbollah began on March 2, Israeli strikes have killed 2,294 people and injured 7,544 others, including 177 children and 274 women among the dead, and 704 children and 1,223 women among the wounded, according to Lebanon’s Health Ministry. Read more: Ceasefire without sovereignty: Lebanon's power blocks peace with Israel
https://www.shafaq.com/en/Middle-East/Israel-signals-optimism-for-upcoming-Lebanon-talks