Shafaq News

Gold fell ​on Friday but was on track for its firstmonthly gain in five ‌months, supported by bargain buying around the $4,000level, while investors weighed developments in the Middle East and their impacton U.S. rate outlook.

Spot gold fell 0.5% to $4,076.53 per ounce, as of 0504GMT, but was headed ​for a weekly rise of 0.7%. Prices were up about 1.8% thismonth.

U.S. gold futures for ​August delivery lost 0.5% to$4,079.60.

"Gold is showing a mild negative bias today amid⁠profit-taking and a moderate bounce in the U.S. dollar, following the metal'sgains yesterday and ​the corresponding fall in the greenback," said TimWaterer, chief market analyst at KCM Trade.

The ​dollar gained about 0.3%, after diving 2.4% inits biggest single-day drop since January 2023 on Thursday. A stronger U.S.currency makes dollar-denominated commodities more expensive for overseasbuyers.

However, "gold has had a better run of ​thingsthis month. A key support has been the metal finding a cushion of sorts ​aroundthe $4,000 level, which has attracted buyers on dips," Waterer said.

On Wednesday, the Fed left interest rates unchanged at‌its ⁠policy meeting, and Chair Kevin Warsh gave little indication on thecentral bank's next policy move.

Markets are now pricing in a 63% chance of a rate hikein September, according to CME Group's FedWatch tool. FEDWATCH

While gold is often seen as a hedge against inflation,higher interest ​rates can dampen its ​appeal by raising the ⁠opportunity costof holding the non-yielding asset.

In the Middle East, a drone strike that sparked fireson two gas vessels in Egypt's Mediterranean port ​of Damietta has raised a newthreat to shipping through the ​Suez Canal, ⁠one of the last major exportroutes available to Saudi oil amid the expanding U.S.-Iran war.

"Over the long run, the Hormuz crisis will fadebut geopolitical multipolarity, hypo-globalization, and U.S. fiscal imbalances⁠will support ​gold as a hedge against U.S. assets," analysts at ​BCAResearch said in a note.

Spot silver fell 0.5% to $58.70 per ounce.

Platinum slid 1.2% to $1,639.77, and palladium fell0.2% to $1,301.50, but both ​metals were headed for a monthly gain.

(Reuters)

Only the headline is edited by Shafaq News Agency.

Shafaq News

Oil prices fell on Friday but kept on track for amonthly ​rise of about a fifth, as more supplies flowed through crucial ‌maritimechokepoints, despite a lack of major breakthroughs in talks between the UnitedStates and Iran.

Brent futures fell $1.03, or 1.2%, to $88 a barrel by0215 GMT, while U.S. ​West Texas Intermediate (WTI) crude slipped $1.50, or1.8%, to $82.09 a barrel. On ​a monthly basis, both benchmarks were set to riseabout ⁠20%.

Crude oil is edging lower as rising tension MiddleEast tension is ​being offset by signs of increased flows in the Strait ofHormuz, ​said Daniel Hynes, a senior commodity analyst at ANZ.

The strait, which usually carries about a fifth ofglobal shipments of crude oil and liquefied natural gas, has been ​a focalpoint for oil markets as it has been largely blockaded ​since the February 28launch of the U.S.-Israel war on Iran.

Saudi Arabia seeks to ‌lead ⁠a coalition to boostdefence cooperation in the Bab El-Mandeb Strait, the Red Sea and the Gulf ofAden, all chokepoints for energy supplies.

The Saudi defence ministry said 14 nations, includingDjibouti, Egypt, Pakistan, Sudan and Turkey, ​were in support ​of themultinational ⁠maritime defence coalition.

Iran-aligned Houthi militants in Yemen declared anaval blockade last week on Saudi Arabia, threatening the ​Red Sea route forits oil exports, an alternative ​to the ⁠Strait of Hormuz.

Although tanker traffic has continued through theStrait of Hormuz and the Red Sea, higher security risks have boosted freightcosts and insurance ⁠premiums to ​embed a significant geopolitical risk premiumin ​oil prices, said Priyanka Sachdeva, analyst at Phillip Nova.

"While prices eased from recent highs, the​broader trend remains constructive," Sachdeva said.

(This story has been corrected to fix the company nameto ANZ, not ING, in paragraph 3)

(Reuters)

Only the headline is edited by Shafaq News Agency.

Shafaq News- Baghdad

Iraq's state-owned Rafidain Bank on Thursday ordered anumber of its branches and departments responsible for salary localization toremain open on Friday and Saturday to complete salary processing and ensurepayments are released without delay.

The bank said the extended working hours are intended tospeed up procedures for uploading salaries and completing disbursements.

Earlier today, Iraqi Finance Minister Faleh Al-Sari revealedthat the country is facing a genuine funding shortfall that is delaying salarypayments for public employees, pensioners, and social welfare beneficiaries.

Shafaq News- Baghdad

Liquidity shortages at several Iraqi private banks haveweakened their ability to meet domestic and international obligations, as wellas requirements set by the Central Bank of Iraq (CBI), a banking source toldShafaq News on Thursday.

The situation could lead to mergers among some banks, notingthat consolidation also aligns with banking sector reform efforts andinternational standards, the source said.

Mergers involving troubled banks or those facing liquidityshortages do not necessarily mean depositors will lose their money, asfinancial obligations remain in place. However, recovering deposits may not beas quick or straightforward as customers expect.

Addressing the liquidity shortage will require restructuringthe banking sector, strengthening confidence in banks, and improving theirability to comply with regulatory and financial requirements, according to thesource.

Banking sources also told Shafaq News earlier today thatbanks have begun implementing urgent compliance measures required to liftrestrictions on several lenders. The measures include stronger anti-moneylaundering and counter-terrorist financing controls, tighter governance, closermonitoring of US dollar transactions, and steps to curb smuggling and illicittransfers. Employees at several banks said management had intensified theprocess, with some staff working up to 12 hours a day amid mounting pressure tomeet the CBI of Iraq's deadlines.

In April, the CBI directed several lenders to implementstricter compliance measures, as part of efforts to lift restrictions onaffected banks and restore their access to international banking services.

Read more: Iraq’s oil bottleneck: Abundance trapped by dependency

Shafaq News- Baghdad

Iraq's funding gap is hindering salary payments for publicemployees, pensioners, and social welfare beneficiaries, Finance Minister FalehAl-Sari said on Thursday, revealing that the country's monthly payrollobligations total about 7.8 trillion Iraqi dinars (about $5.95B).

During discussions with Ishraqat Kanoon lawmaker HaiderAl-Mutairi, Al-Sari said the Finance Ministry had disbursed about threetrillion dinars (about $2.29B) to several ministries in recent days andcurrently holds liquidity of around 1.5 trillion dinars (roughly $1.15B), whichit aims to increase to 1.65 trillion dinars (nearly $1.26B) to begin payingpensions. He added that the ministry would continue working to secure the fundsneeded to pay the remaining ministries and state institutions despite a fundingshortfall estimated at about 3.3 trillion dinars (approximately $2.52B).

They also addressed the situation of top graduates andpostgraduate degree holders employed by the Education Ministry, some of whomhave not received salaries for nearly 10 months. Al-Sari instructed therelevant authorities to resolve the issue and address the reasons behind thepayment delays.

The two sides further discussed proposals to create jobs forgraduates, particularly medical graduates, postgraduate degree holders, andother job seekers, by investing state resources and expanding the role ofpublic health clinics, universities, and government hospitals.

Read more: Degree holders stranded in Iraq's job drought

Iraq remains heavilydependent on oil revenues. According to the State Oil Marketing Organization(SOMO), the country earned $18.679 billion from crude oil exports in the firsthalf of 2026 by selling 268.09 million barrels. However, shipping disruptionsthrough the Strait of Hormuz during the US-Israeli war on Iran have sharplyreduced exports, putting additional pressure on public finances.

Shafaq News- Baghdad/ Erbil

The US dollar closed steady in Iraq on Thursday, hoveringaround 150,400 dinars per 100 dollars in Baghdad and Erbil.

According to Shafaq News market survey, the dollar traded inBaghdad's Al-Kifah and Al-Harithiya exchanges at 150,650 dinars per 100dollars, same price recorded this morning.

In the Iraqi capital, exchange shops sold the dollar at 151,000dinars and bought it at 150,000 dinars.

In Erbil, selling prices stood at 150,800 dinars and buyingprices at 150,700 dinars.

Shafaq News- Baghdad

Iraq, OPEC's second-largest producer, earned $18.679 billion from crudeoil exports in the first half of 2026, selling 268,092,198 barrels of crude,according to figures from Iraq's State Oil Marketing Organization (SOMO).

SOMO, the state body responsible for all of Iraq's crude oil sales,recorded exports of more than 606 million barrels in the first six months of2025, more than double the volume shipped in the same period this year.

Revenue reported for only four months of the first half of 2025 reachedabout $27.514 billion, exceeding Iraq's total oil income for the entire firsthalf of 2026, according to the SOMO figures.

The Iraqi Oil Ministry said last Tuesday that crude exports surpassed32 million barrels in May and June, generating more than $2.3 billion, based onSOMO's final statistics.

The release followed a period of irregular disclosure of export andrevenue data, which the report linked to regional tensions that disruptedenergy supply chains and maritime navigation in recent months.

The Oil Ministry has not resumed regular monthly publication of exportand revenue statistics since its report covering April.

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed

Shafaq News- Baghdad

Iraqi private banks have begun implementing urgent compliance measures tied to lifting restrictions on several lenders, banking sources told Shafaq News on Thursday.

The Central Bank of Iraq (CBI) instructions require stronger anti-money laundering and counter-terrorist financing controls, tighter governance, closer monitoring of dollar movements, and measures to prevent smuggling and illicit transfers, the sources explained, adding that banks were given deadlines to complete the procedures, with failure potentially limiting access to international banking services.

Employees at several private lenders separately told Shafaq News that management had intensified work, with some staff working about 12 hours daily and reporting severe exhaustion and fainting cases.

On July 18, Prime Minister Ali Al-Zaidi’s Media Office said CBI Governor Nizar Nasser Hussein held high-level meetings with US Treasury officials that produced an understanding to return restricted Iraqi banks to foreign correspondent channels in currencies other than the US dollar.

Read more: Iraq’s PM al-Zaidi offers Tehran and Washington a corridor, not a battlefield

Hussein said seven banks are currently eligible to resume non-dollar correspondent banking and may later qualify for dollar transactions after completing further compliance and governance requirements.

Shafaq News- Basra

Three crude oil tankers with a combined capacity offive million barrels have docked at Iraq’s Basra Oil Port to load cargoes boundfor global markets, a source at the state-owned General Company for Ports ofIraq told Shafaq News on Thursday.

The chartered vessels, operated by Indian and Chinesecompanies, berthed at the port’s single-point mooring terminals. Two can eachcarry two million barrels, while the third has a capacity of one million.

Additional tankers are expected in the coming days,with some already approaching Iraqi territorial waters and others waitingoffshore for clearance.

Iraq, OPEC’s second-largest producer, exports about95% of its crude through southern terminals, leaving it highly exposed todisruptions in Gulf shipping. Eco Iraq, an economic affairs observatory,estimated that the closure of the Strait of Hormuz had cut exports by about 350million barrels by June 20, costing the country roughly $37.7 billion inrevenue.

The Oil Ministry reported earlier this week that Iraqexported 32.11 million barrels of crude, including condensates, worth about$2.34 billion during May and June. The total comprised 20.24 million barrelsfrom Basra, 10.31 million barrels of Kirkuk crude shipped through Turkiye’sCeyhan port, and 1.56 million barrels from the Kurdistan Region through thesame route.

Read more: No exit but Hormuz: Iraq's economic vulnerabilityexposed

Shafaq News-Baghdad/ Erbil

On Thursday, gold prices hoverednear 855,000 IQDper mithqal in Baghdad and Erbil markets, according to a survey by Shafaq NewsAgency.

Gold prices on Baghdad'sAl-Nahr Street recorded a selling price of 853,000IQD per mithqal (equivalent to five grams) for21-carat gold, including Gulf, Turkish, and European varieties, with a buyingprice of 849,000 IQD. The same gold had sold for 848,000 IQD on Wednesday.

The selling price for 21-caratIraqi gold stood at 823,000 IQD,while the buying price reached 819,000 IQD.

In jewelry stores, the sellingprice per mithqal of 21-carat Gulf gold ranged between 855,000and 865,000 IQD, while Iraqi gold sold for between 825,000 and 835,000 IQD.

In Erbil, 22-carat gold wassold at 899,000 IQDper mithqal, 21-carat gold at 859,000 IQD, and 18-carat gold at 735,000IQD.

Shafaq News- Baghdad/ Erbil

The US dollar opened Thursday’s trading higher in Iraq,hovering around 151,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollartraded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 150,650 dinars per100 dollars, up from the previous session’s 150,300 dinars.

In the Iraqi capital, exchange shops sold the dollarat 151,000 dinars and bought it at 150,000 dinars, while in Erbil, sellingprices stood at 150,650 dinars and buying prices at 150,550 dinars.

Shafaq News- Basrah

Iraq’s Basrah crude prices edged higher on Thursday, gaining less than1%, even as major global oil benchmarks declined.

Basrah Heavy crude climbed to $54.04 per barrel, rising $0.34, or 0.63%,while Basrah Medium crude advanced to $56.34 per barrel, adding $0.34, or0.61%.

Brent futures dropped 96 cents, or 1.06%, to $89.78 a barrel. US WestTexas Intermediate (WTI) crude fell 64 cents, or 0.76%, to $83.82 a barrel.

Shafaq News

Oil prices erased some of their previous gains on Thursday,despite escalating attacks in the Gulf as investor focus shifted to supplyflows through the key chokepoints in the region.

Brent futures fell 96 cents, or 1.06%, to $89.78 a barrel asof 0418 GMT. U.S. West Texas Intermediate (WTI) crude fell 64 cents, or 0.76%,to $83.82 a barrel.

Brent settled up 7.91% in the previous session and WTI up6.56% in one of the sharpest spikes of the Iran war, reversing a 5% plunge onTuesday after a pause in hostilities in the five-month conflict.

Prices surged as U.S. President Donald Trump threatened onWednesday to hit Iran "very hard" after an Iranian missile attack onTuesday on ⁠a U.S. base inJordan.

On Wednesday, the U.S. and Saudi Arabia attacked Iran-backedparamilitary forces in Iraq, the first time that Saudi had publicly joined U.S.air strikes, in retaliation for drone attacks on Saudi oil targets launchedfrom Iraq.

The U.S. also carried out two hours of attacks on Iran onWednesday, the U.S. Central Command said. That ended a lull in U.S. strikes onIran that began over the weekend.

"Trump’s 'hit hard' rhetoric caused the price spikeimmediately but looks like the market has fully priced (that) in and (is)considering the 'TACO' possibility right now," said Lin Ye, vice presidentof commodity markets, oil, at Rystad Energy, referring to the acronym TrumpAlways Chickens Out.

Ye said the market is following a pattern: ⁠geopolitical headlines aretriggering rapid price spikes, but those gains are often short-lived as actualsupply flows and parallel diplomatic efforts tend to determine how long thoseupward price moves persist.

Prices are being capped as crude supply is still moving fromthe key Gulf region despite the near shutdown of the Strait of Hormuz. Iranclosed the waterway, through which around a fifth of global ⁠oil and gas flows previouslypassed, after the U.S.-Israeli war began on February 28.

Rystad Energy estimates about 13 million barrels per day ofoil from the Gulf is still reaching markets.

Even after the Iran-aligned Houthis in Yemen imposed a navalblockade on Saudi Arabia ⁠inthe Red Sea on July 20, disrupting shipping in the Bab el-Mandeb strait, somecargoes, particularly on Chinese-connected tankers, have flowed to markets.

"While overall volumes are reduced, oil continues toleak out of the region through multiple ⁠channels,and additional workarounds are being explored. The longer this situationpersists, the more these alternative routes and methods will erode Iran's leverageover the Strait of Hormuz," IG market analyst Tony Sycamore said in anote.

(Reuters)

Only the headline is edited by Shafaq News.

Shafaq News- Najaf

Najaf, in southern Iraq, ispreparing to drill a new exploratory oil well in the Al-Qarnain oil block aftercompleting the installation of a new drilling site, Governor Yousef Kanawi saidon Wednesday.

In a statement, Kanawi described theproject as part of the province's plan to explore and develop its oilresources.

Operated by China’s ZhenHua Companythrough Qarnain Petroleum Company (QPC), the Al-Qarnain field spans roughly8,773 square kilometers near the Saudi border and is considered one of Iraq’smost promising exploration areas.

Read more: Iraq’s oil bottleneck: Abundance trapped by dependency

Shafaq News- Baghdad/ Erbil

The US dollar closedWednesday’s trading higher in Iraq, hovering around 150,000dinars per 100 dollars.

According to Shafaq News marketsurvey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 150,450dinars per 100 dollars, up from the morning session’s 150,300 dinars.

In the Iraqi capital, exchange shopssold the dollar at 151,000 dinars and bought it at 150,000 dinars,while in Erbil, selling prices stood at 150,450 dinars and buying pricesat 150,400 dinars.

Shafaq News-Baghdad/ Erbil

On Wednesday,gold prices held steady in Baghdad while edging higher in Erbil, hoveringaround 850,000 IQD per mithqal in the capital, according to Shafaq News marketsurvey.

Gold prices onBaghdad's Al-Nahr Street recorded a selling price of 848,000 IQD per mithqal(equivalent to five grams) for 21-carat gold, including Gulf, Turkish, andEuropean varieties, with a buying price of 844,000 IQD, unchanged from Tuesday.

The sellingprice for 21-carat Iraqi gold stood at 818,000 IQD, with a buying price of814,000 IQD.

In jewelrystores, 21-carat Gulf gold ranged between 850,000 and 860,000 IQD per mithqal,while Iraqi gold sold for between 820,000 and 830,000 IQD.

In Erbil,22-carat gold was sold at 897,000 IQD per mithqal, 21-carat gold at 857,000IQD, and 18-carat gold at 734,000 IQD.

Shafaq News-Baghdad/ Erbil

The US dollaropened Wednesday's trading higher in Iraq, hovering around 150,250 dinars per100 dollars in Baghdad and Erbil.

According toShafaq News market survey, the dollar traded in Baghdad's Al-Kifah andAl-Harithiya exchanges at 150,300 dinars per 100 dollars, up from Tuesday's149,900 dinars.

In the Iraqicapital, exchange shops sold the dollar at 150,750 dinars and bought it at149,750 dinars.

In Erbil,selling prices stood at 150,350 dinars and buying prices at 150,250 dinars.

Shafaq News- Basrah

Iraq’s Basrah crude declined by nearly 1% on Wednesday, despitestrong gains in the benchmark crude futures.

Basrah Heavy crude slipped 0.90% to $53.70 per barrel, while BasrahMedium crude fell 0.87% to $56.00 per barrel.

Brent crude climbed $2.70, or 3.2%, to $86.79 per barrel, while USWest Texas Intermediate crude advanced $2.65, or 3.3%, to $81.91 per barrel.

OPEC's basket fell 8.54% to $88.91 per barrel, while UAE Murbancrude edged down 0.40% to $84.09 per barrel. Saudi Arabia's Arab Light crudedeclined 1.21% to $75.29 per barrel, Kuwait Export Blend dropped 6.86% to$87.56 per barrel, Qatar Land crude lost 5.50% to $83.84 per barrel, and Dubaicrude slipped 2.55% to $76.91 per barrel.

Shafaq News

Oil prices rose more than $3 abarrel on Wednesday after joint ​strikes in Iraq by the United States and SaudiArabia, and ‌the interception of Iran's ballistic missiles aimed at U.S. forcesin the Middle East, while U.S. crude inventories shrank.

Brent futures increased by $3.30, or3.9%, to $87.39 a barrel by 0300 ​GMT, while U.S. West Texas Intermediate (WTI)crude rose $3.05, or 3.8%, to $82.31 ​a barrel.

"Renewed strength comes afterthe U.S. said it intercepted a ⁠surprise attack on U.S. troops," INGanalysts said in a note.

"Saudi Arabia ​intercepteddrones from Iranian-backed groups in Iraq, which were targeting Saudi energyinfrastructure," ​they said, adding that U.S. and Saudi forces launchedstrikes on weapon sites across eastern Iraq.

The latest developments dampenexpectations for a swift de-escalation in the Persian Gulf, they said.

The ​U.S. military said itintercepted ballistic missiles launched by Iran towards U.S. forces ​in theMiddle East in what Washington called "an attempted surprise attack"by Tehran.

Iran's elite Revolutionary ‌Guards⁠later said they fired several ballistic missiles at a U.S. air base andmilitary Central Command center in Jordan.

Saudi Arabia also said its armedforces, in coordination with U.S. Central Command, carried out "targetedstrikes" against Iran-backed groups in Iraq ​it blamed for drone ​attackson the ⁠kingdom's oil facilities.

U.S. crude inventories fell by about3.3 million barrels in the week ended July 24, market sources said ​on Tuesday,citing data from the American Petroleum Institute.

Official ​inventory data ⁠from theEnergy Information Administration is due later on Wednesday.

Further supporting prices, OPEC+ islikely to halt oil output increases for three months starting in October,sources told ⁠Reuters, ​after the producer group completes the scheduled return​of barrels following voluntary cuts.

(Reuters)

Only the headline is edited byShafaq News.

Shafaq News- Baghdad/ Washington

The United States imported an average of 249,000 barrels perday (bpd) of crude oil and petroleum products in 2025 from Iraq, OPEC'ssecond-largest producer, down from 260,000 bpd in the previous year, accordingto data released by the US Energy Information Administration (EIA).

Among OPEC suppliers to the US market, Saudi Arabia rankedfirst with 325,000 bpd, followed by Iraq. Other suppliers included Libya with69,000 bpd, Algeria with 65,000 bpd, Kuwait with 45,000 bpd, Nigeria with36,000 bpd, and the United Arab Emirates with 30,000 bpd.

The US recorded net exports of 2.798 million bpd of crudeoil and petroleum products worldwide in 2025, while net imports from OPECmembers averaged 966,000 bpd, including 667,000 bpd from the Arab Gulf states.

Shafaq News- Baghdad

Iraq, OPEC's second-largest producer, exported 32.11 million barrels of crude oil, including condensates, worth about $2.34 billion during May and June 2026, the Oil Ministry announced on Tuesday.

According to the State Organization for Marketing of Oil (SOMO), the total comprised 20.24 million barrels from Basra, 10.31 million barrels of Kirkuk crude shipped through Turkiye's Ceyhan port, and 1.56 million barrels from the Kurdistan Region exported via the same terminal.

The figures mark the ministry's first official export and revenue update since its April report, following a suspension of its regular monthly publication after regional tensions affected maritime navigation.

Oil expert Hamza Al-Jawahiri told Shafaq News that fluctuating export volumes and unstable shipping operations had disrupted the regular publication of the ministry's figures, adding that the lack of consistent reporting reduces transparency and makes it more difficult to accurately assess the performance of Iraq's oil sector and its revenues.

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed

Shafaq News-Baghdad/ Erbil

The USdollar closed Tuesday’s trading mixed in Iraq, hovering around150,000 dinars per 100 dollars.

According toShafaq News market survey, the dollar traded in Baghdad's Al-Kifah andAl-Harithiya exchanges at 150,000 dinars per 100 dollars, up from themorning session’s 149,000 dinars.

In the Iraqicapital, exchange shops sold the dollar at 150,500 dinars and bought itat 149,500 dinars, while in Erbil, selling prices stood at 150,100dinars and buying prices at 150,000 dinars.

Shafaq News-Baghdad

Oil revenuesaccounted for 84% of Iraq's federal budget income during the first five monthsof 2026, down from 91% in the same period of 2025, while the share of non-oilrevenues increased to 16%, according to official data released by the Ministryof Finance on Monday.

Theministry's report, reviewed by Shafaq News, showed that oil and mineralresource revenues totaled 26.946 trillion Iraqi dinars (about $20.6 billion)through the end of May 2026, compared with 41.931 trillion dinars (about $32.0billion) during the same period last year. The decline amounted to 14.985trillion dinars (about $11.4 billion), or approximately 35.7%.

By contrast,non-oil revenues rose to 6.477 trillion dinars (about $4.95 billion) from 4.226trillion dinars (about $3.23 billion) in the corresponding period of 2025, anincrease of 2.251 trillion dinars (about $1.72 billion), or roughly 53.3%. As aresult, their contribution to total budget revenues increased from 9% to 16%.

The datashowed improvements across most non-oil revenue sources. Taxes on income andwealth increased from 574 billion dinars (about $438 million) to 635.6 billiondinars (about $485 million). Commodity taxes and production fees rose from1.028 trillion dinars (about $785 million) to 1.440 trillion dinars (about$1.10 billion), while government fees increased from 434 billion dinars (about$331 million) to 486.6 billion dinars (about $372 million). The federalbudget's share of public sector profits also climbed from 660 billion dinars(about $504 million) to 1.242 trillion dinars (about $949 million).

Overall,Iraq's federal budget revenues reached 33.747 trillion dinars (about $25.8billion) by the end of May 2026, compared with 46.157 trillion dinars (about$35.2 billion) during the same period in 2025. The decline of 12.410 trilliondinars (about $9.47 billion) represents a decrease of approximately 26.9%.

“Iraq'stotal oil revenues for 2026 reached 27.270 trillion dinars (about $20.8billion), including 2.090 trillion dinars (about $1.60 billion) in oil revenuetransferred by the Kurdistan Region to the federal treasury followingaccounting settlements,” the report added.

Thecomparison between the two years shows that the decline in overall budgetrevenues was driven primarily by lower oil income, while stronger non-oilrevenue growth increased its contribution to the federal budget. Oil revenuesnevertheless remained the country's main source of public financing.

Shafaq News-Baghdad/ Erbil

On Tuesday,gold prices fell across Baghdad and Erbil, hovering around 850,000 IQD permithqal, according to Shafaq News market survey.

Gold prices onBaghdad's Al-Nahr Street recorded a selling price of 848,000 IQD per mithqal(equivalent to five grams) for 21-carat gold, including Gulf, Turkish, andEuropean varieties, with a buying price of 844,000 IQD. The same gold had soldfor 858,000 IQD on Monday.

The sellingprice for 21-carat Iraqi gold stood at 818,000 IQD, with a buying price of814,000 IQD.

In jewelrystores, 21-carat Gulf gold ranged between 850,000 and 860,000 IQD per mithqal,while Iraqi gold sold for between 820,000 and 830,000 IQD.

In Erbil,22-carat gold was sold at 894,000 IQD per mithqal, 21-carat gold at 855,000IQD, and 18-carat gold at 732,000 IQD.

Shafaq News-Baghdad (Updated at 18:21)

A Diesel shortage in Baghdad worsened on Tuesday as lines of vehicles outside fuelstations grew longer, part of a supply crisis affecting most of Iraq in recentdays.

Theshortage, which extends to Baghdad and several provinces, stems from higherdomestic demand as private neighborhood generators consume more fuel during thesummer, alongside reduced output at several oil refineries, energy specialistAsem Jihad told Shafaq News, adding that the government supplies Diesel freeof charge to private generators under a program to support power provision forcitizens, while also meeting the needs of other sectors that depend on thefuel. “That has raised demand markedly at a time when domestic refineriescannot meet the full requirement, owing to limited production capacity andmaintenance at some refining units.”

Read more: Fuel shortages paralyze Erbil gasoline stations

To cover theshortfall, the Ministry of Oil has turned to importing Diesel to sustainsupply to private generators and local markets, Jihad said, considering thisstep a temporary measure until domestic refinery output increases and projectsto develop the refining sector are completed.

Poor-quality Fuel Strains Iraq Generators

Owners of private electricity generators said the fuel used to run theirmachines has deteriorated in quality and become harder to obtain, causingrepeated technical faults.

One owner, who runs three private generators, told Shafaq News that someof his machines had begun to run erratically because of the fuel, with sensorsmalfunctioning during operation and dragging down performance. "If thesituation continues like this, we will be forced to stop the generators,because there is not enough fuel to run them."

Read more: Iraq’s energy emergency: Kerosene shortages disrupt power and daily life