Middle East Daily

The Middle East faces ongoing security concerns near the Strait of Hormuz, yet regional trade balances are improving, particularly in Saudi Arabia. Concurrently, sovereign bond markets remain focused on fiscal deficits and central bank policy expectations.

Key Takeaways

• 1.Oil prices remain range-bound in the low-to-mid USD70s/b as supply improvements via the Strait of Hormuz offset ongoing geopolitical risk premiums.
• 2.Saudi Arabia's trade surplus doubled to SAR25.4bn in April 2026, driven by an 11.7% year-on-year increase in oil exports.
• 3.Kuwait has increased domestic debt issuance to KWD1.25bn in FY2026/27 to finance a widening fiscal deficit caused by geopolitical pressures.

Table of Contents

• COMMODITIES / ENERGY
• MIDDLE EAST – CREDIT TRADING
• MIDDLE EAST – MACRO / MARKETS
• CALENDAR – DATA / EVENTS / MEETINGS
• MARKET INDICATORS

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