Middle East Daily

The report highlights the downward pressure on energy and gold prices due to supply normalization in the Middle East and a hawkish Fed outlook. It also notes rising inflation in Bahrain and continued weakness in regional credit markets.

Key Takeaways

• 1.Brent crude prices fell below pre-war levels as supply flows through the Strait of Hormuz normalize.
• 2.Bahrain's inflation rate reached a two-year high of 2.3% in May, driven by food, transport, and education costs.
• 3.Credit markets remained weak with flows skewed to selling, as dealers await month-end outflows in UAE names.

Table of Contents

• COMMODITIES / ENERGY
• BAHRAIN INFLATION RISES TO TWO-YEAR HIGH IN MAY
• MIDDLE EAST – CREDIT TRADING
• MIDDLE EAST – MACRO / MARKETS
• CALENDAR – DATA / EVENTS / MEETINGS
• MARKET INDICATORS

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