forex cross rate

Barclays: Market urgency to secure supply is rising, and short-term oil price risks remain significantly skewed to the upside.

Barclays: Inventory depletion and recovering demand are tightening the spot market. Despite policy efforts to ease diesel supply shortages, short-term oil price risks remain clearly skewed to the upside.

According to the Iraqi News Agency, Iraqi Prime Minister Muammar Zaidi stated that the Strait of Hormuz crisis prevented Iraq from benefiting from rising international oil prices, and the country's oil exports fluctuated between suspension and resumption due to the regional situation. Iraq is planning to build new oil export pipelines to avoid over-reliance on the Strait of Hormuz and is seeking to restore the Ceyhan export route and expand its oil export channels. Zaidi also stated that Iraq will not participate in any wars and will continue to serve as a platform for meetings between all parties; the regional crisis must ultimately be resolved through agreement. He pointed out that closing the border between Iraq and Iran is not in the interests of either country and would only lead to Iraq's economic self-isolation. Regarding the oil industry, Iraq plans to increase its daily crude oil production capacity to 10 million barrels by 2032 and increase the proportion of non-oil revenue in government revenue. Zaidi stated that after adjusting the pricing of locally supplied oil, the government expects to increase the national treasury by approximately 20 trillion dinars annually, accumulating to approximately 80 trillion dinars over the next four years.

French Finance Minister Lescuer: Moody's rating decision acknowledges the robustness of the French economy.

Moody's: The recent sharp rise in French government bond yields has further increased the risk of a deterioration in France's debt affordability.

Moody's: France's fiscal deficit is projected to reach 5.2% of GDP in 2027.