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  In Dinar Guru Updates, TNT

Tishwash: Deputy: The patchwork solutions and waiting for the high oil prices will lead to the collapse of the Iraqi economy

The former deputy, Masoud Haider, stressed that the patchy solutions that the government is putting in place and waiting for high oil prices will lead to the collapse of the Iraqi economy.

Haider said in a tweet on “Twitter”, “The rapid population growth must be taken into account in Iraq, and think about how to absorb this increasing number of youth workforce?”

He added, “The economy is the focus of political, security and societal stability. The patchy solutions and waiting for the high oil prices lead all of us to fatalities and the collapse of our economy, even after a while.”      link

Tishwash:  Disappointing’ news from the oil market … US-China tension puts an end to the path of rise!

Oil prices fell, on Friday, against the backdrop of tension between the United States and China, which sparked fears that the pandemic of the Corona virus will overshadow fuel demand in the world’s second largest oil consumer.

According to a report by “Reuters” followed by “NAS” (May 22, 2020), Brent crude fell 1.43 dollars, or four percent, to 34.63 dollars a barrel by 0630 GMT, after falling to the low level of 33.54 dollars a barrel.

West Texas Intermediate crude fell 1.81 dollars, or 5.3 percent, to 32.11 dollars a barrel, after falling to 30.72 dollars earlier.

Oil prices have risen strongly in recent weeks and are still on track for the fourth weekly gain after the declines in April when US crude fell without traveling.

But markets were disappointed by China’s decision not to set a target for economic growth this year, with the start of a week-long meeting of the National People’s Congress.

Analysts say the escalation of tension between the United States and China over trade and the Beijing plan to implement national security legislation in Hong Kong is hurting oil and other markets.

US President Donald Trump has warned of a strong response to seeking more control over the former British colony.

At the same time, demand for gasoline is back, as data prepared for Reuters shows that traffic in some capitals of the world is recovering to levels recorded a year ago after lifting the restrictions associated with the Corona virus.

US oil inventories fell last week, compared to expectations for an increase, according to official data this week.    link