Iraq crisis threatens the world
Iraq crisis threatens the world
12-06-2014 12:07 PM
The seventh day .. Wednesday, June 11th, 2014
wrote Mahmoud Askar new global crisis is preparing its global markets in the coming days, after the forces took control of groups of al Qaeda extremist (Daash) on the Iraqi cities, especially the city of Mosul and Salahuddin province, and a number of other areas in western Iraq , and which is characterized in mostly as cities rich in oil, which has led to a rise in the oil price since trading first, on Wednesday. this crisis will not stop only on global markets or oil markets only, but affect the first thing that affect the prices of petroleum products (diesel and gasoline) which imports Egypt, for example, mostly from abroad, worth in excess of three billion dollars annually, in addition to what is produced locally, which threatens rising subsidy bill the government for energy sources dramatically under the large deficit in the state budget, which increases the fuel crisis in the coming period. also will hit crisis is also the gold market, which is moving its price movement is directly proportional to the price of oil, which stops rising gold prices or decline to two main factors, namely the price of a barrel of oil and the price of the dollar, the higher the price of a barrel of oil rose with gold prices and lower the price of the U.S. dollar higher the price of gold, On the other hand the changes in political life, such as war on Iraq and the Lebanon war leads to the decline of the dollar, and in turn leads to a rise in the price of gold. On the domestic market, has seen gold prices rise, today, the value of one pound per gram, the total price of a gram of 21-carat value of 257 pounds , and following the rise in world prices to record the value of 1260 dollars per ounce. , and the price of a gram 18 carat about 220 pounds, as the price of a gram 24 carat about 293 pounds, as the price of Fairy Gold 2056 pounds. showed dealings global markets determine the price of gold in session Cutting Morning in London, on Wednesday, at 1262.50 dollars an ounce from 1259.50 U.S. dollars in the session, cutting the former, and the price of gold at the previous close in New York 1260.49 dollars an ounce. stepped up futures prices for Brent crude above $ 110 a barrel, on Wednesday, because of the violence in Iraq, which has raised concerns about the continuation of supplies at a time of reduced U.S. gasoline inventories. as Brent climbed 66 cents to 110.18 dollars a barrel at 0912 GMT, having ended the previous session on a decline of 0.4 percent. And moving Brent to record its highest close in more than two weeks, according to Reuters news agency. rose U.S. light crude futures 39 cents to 104.74 dollars a barrel, after she had jumped during the previous session to 105.06 dollars, approaching its highest level this year of $ 105.22 dollars, which recorded in early March , said security sources in Iraq, said the gunmen from the organization of the Islamic State in Iraq and the Levant, who took control of the city of Mosul, the second largest Iraqi cities this week, entered the city of Baiji’s largest oil refinery in the country and set fire to the court and a police station . said Iraqi Oil Minister Abdul-Karim and coffee, on Wednesday, said that the export facilities as the main raw in the south of the country ‘very safe too’, although shipments current of about 2.6 million barrels per day. Although the fighting was not approaching the oil-producing regions, but he blew fears deterioration of the situation in production downtime. data showed the American Petroleum Institute, gasoline stocks in the United States recorded a decrease of 441 thousand barrels last week, while expectations were referring to an increase of 843 thousand barrels. and markets await Day Wednesday, official data for the stocks of Management U.S. Energy Information Administration, and is expected to show commercial oil inventories fell Alomrakh.