WOTS MON SEP 20 21 Iraq is considering including Basra crude in the world price list
I may do a My FX Podcasts later today come back in the evening
But for now here is the Daily WOTS Word on the Street Report for
September 20, 2021
147,250
....
The price is in most Baghdad exchanges
Purchase
146,750
Sale
147,750
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Erbil - Bursa
147,400
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Basra - Bursa
147,400
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Mosul - Bursa
147,400
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1441.8000 |  1492.9000 | 1459.0000 | 1458.7000 | 1459.0000 | 0.9000 | 12:51 |
| USD/VND | 22769.0000 | 22773.0000 | 22764.0400 | 22761.4300 | 22761.4300 | 3.2800 | 03:40 |
| USD/CNY |  6.4651 | 6.4671 | 6.4659 | 6.4651 | 6.4652 | -0.0001 | 05:05 |
| USD/KWD | 0.3005 | 0.3015 | 0.3007 | 0.3006 | 0.3007 | 0.0000 | 02:40 |
| GBP/USD | 1.3695 | 1.3696 | 1.3748 | 1.3662 | 1.3748 | -0.0032 | 05:30 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14261.0000 | 14261.0000 | 14290.0000 | 14238.0000 | 14260.0000 | 1.0000 | 05:28 |
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Oil plunges as the US dollar rises
Oil prices fell, today, Monday, to continue the losses incurred on Friday, after the US dollar rose to its highest level in three weeks and the number of rigs in the United States increased, although nearly a quarter of US production in the Gulf of Mexico is not Still parked in the wake of two hurricanes.
US West Texas Intermediate crude futures were down 30 cents, or 0.4 percent, at $71.67 a barrel at 0059 GMT, after falling 64 cents on Friday. Brent crude futures fell 27 cents, or 0.4 percent, to $75.07 a barrel, after falling 33 cents on Friday.
The price of oil fell as the dollar approached its highest level in three weeks, after rising on Friday, as a result of better-than-expected US retail sales data.
This reinforced expectations that the US Federal Reserve will begin to reduce asset purchases later this year.
The rise in the number of drilling rigs in the United States has also curbed the rise in oil prices.
Iraq is considering including Basra crude in the world price list
The Oil Marketing Company "SOMO" is studying the proposal to adopt Basra crude in the international price list, while it confirmed that the total exported quantities of Basra's medium oil exceeded 241 .million barrels since the beginning of the year until the 31st of last month
SOMO" General Manager Alaa Khader Al-Yasiri said, in a press statement: "The company has been constantly" searching for all means and mechanisms that support maximizing the state's financial returns through the continuous study of the reality of the global oil market and developments on it, and the company is currently studying the adoption of Basra oil in The international price list, and if the study concludes that there is an economic feasibility in adopting this mechanism, the steps and procedures that support this trend will be followed, .according to the powers and requirements for maximizing revenues
He added that "Iraqi oil is a mixture of a group of fields in central and southern Iraq, most of which are in the governorates of Basra, Maysan and Dhi Qar, and most of these fields are made up of a mixture of crude oil, and that the medium crude is produced from the Basra governorate, whose export rate was 35.05% of the total The exported quantities of Iraqi crude oil compared to Basra crude oil (heavy and light) during the period from 1/1/ .2021 to 31/8/ 2021
Al-Yasiri indicated that "the total exported quantities of Basra medium crude oil during the period from 1/1/2021 to 31/8/ 2021 amounted to 241,306,742 barrels, and the percentage of the exported from it to Asian markets ".during the same period was 76.5%, with a quantity of 184,494,283 barrels
It is noteworthy that the month of November of last year 2020 witnessed the unveiling of a new crude called "Basra Medium Crude", to be a new, third grade with Basra Light and Heavy crude, to be launched and exported .to global markets early this year 2021
Iraq began to see an increase in demand for "Basra Medium Crude", which has new specifications, by dividing the production of Basra Light into two degrees, where the attractiveness of Basra Light (light) crude is 33 degrees, while the attractiveness of Basra Medium crude is about 29 degrees, and Heavy is at 24 degrees, and on this basis, the more the amount of gravity decreases, it gives an indication that the liquid is heavier, and the quantities .of gasoline and diesel extracted from this ore will decrease when it is refined
Reports stated that (Medium Crude) began to dominate Iraqi oil exports to Asian countries, outperforming Basra .light and heavy shipments together
An Iraqi parliamentarian criticizes the government's insistence on including borrowing in next year's budget
Today, Monday, Ahmed Hama Rashid, a member of the Parliamentary Finance Committee in the Iraqi parliament, criticized the government’s insistence on including the issue of borrowing in the 2022 budget, despite the rise in global oil prices.
And the website "Alsumaria News" quoted Rashid that the current rise in international oil prices necessarily covers all the deficit in the federal budget.
Rasheed considered that talking about the government's intention to include borrowing in the next year's budget reveals its lack of seriousness in many files, including the loan file.
The Iraqi parliamentarian saw that his country's government wants to go to loans for fear of fluctuations in global oil prices.
He considered that the government does not have a clear vision regarding the Iraqi economy and oil prices for the coming months, until this moment
Deputy: Iraq needs a strong parliament that fights corruption and holds officials accountable
A representative of the State of Law coalition, Duha Al-Qaisar, confirmed, on Monday, that the country needs a strong parliament that works to legislate laws and fight corruption.
In a televised statement, Al-Qaisar said, "Iraq needs to choose representatives in the House of Representatives who have the ability to complete laws and legislation, fight corruption and hold the corrupt accountable," noting that "there are great observations about the performance of the current parliamentary session."
The Caesar indicated that "the next parliament needs to gain credibility from the people," explaining that "most of the interrogations that were delayed were caused by political consensus and bargaining."
CBI Update: Just a note:
including $58,310,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
9-19-2021 Newshound/Intel Guru RVAlready I do not think this is being held up on purpose. This gets only one shot. Financial preparation, logistical preparation, and security preparation must all be made ready. I’m hoping we see this as soon as possible. I am expecting this before Oct 1.
9-19-2021 Newshound Guru Kaperoni Photo shows construction of new CBI building in Baghdad...
9-19-2021 Newshound/Intel Gurus Walkingstick and Frank26 It is possible within the next 2 weeks or whatever that time frame is when it eventually gets here, it is possible that the CBI is going to take the 'sheets' [dinar samples] and they're going to say, 'Citizens come here get into the banks, look at this...this is your new currency coming to you.' They may show the citizens the new small category notes and not release the exchange rate at that moment. The show is not the same as releasing...
9-19-2021 Newshound/Intel Randy Koonce How are you makin it? ...It looks like there is a really good window open now through the end of September. It appears that the Biden administration has gone back and endorsed the Obama era numbers; so even tho your money will be coming out over $1.00 - it will not be much over the $1.00. The good thing is that the Biden group wants it out, and all the parties seem to have agreed. I do not have an exact day but, it looks good from now till the end of Sept...
9-19-2021 Newshound Guru Pimpy We're starting to see all kinds of agreement and projects starting...as long as I've been doing this I don't remember this many articles. It seems like every day now you're seeing new agreements, new companies coming in, outside investors. No doubt about it the economy is starting to open up. This is really good so I'm really happy for the people in Iraq...
9-19-2021 Intel Guru Frank26 On December the 20th we really sincerely thought because 5 days prior to that on December 15th we have the article where it was said very plainly by the IMF Iraq is in the process of adding value to their currency before the end of the year. It did not happen. Instead the CBI asked the IMF can we lower the value even more? What for? ...we can pay our debt at a lesser cost for us. IMF said brilliant, go for it, you've got 6 months. And they did. When those 6 months ended June 20th, what happens? Oh my goodness gracious every day article after article...hundreds of them all for the last 2 months talking about, 'we're going to raise the value of our currency. We're going to introduce a new small category note for you...by the way we're going to float our currency internationally'...
9-19-2021 Intel Guru Bruce [via WiserNow] We do know that the rates for the currencies...are locked on the screens...we have a solid rate for Dong we do not know what the rate is for the Dinar now but we’ve heard some things in the past what Dr Shabbibi believed the Dinar could support and I think that’s probably still going to be the case – so called front screen rate...
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