Middle East Daily

Oil prices have surged past $105/b as US-Iran tensions escalate and Hormuz shipping remains disrupted, while Saudi Aramco sees record profits. Israel's 'A' credit rating remains stable despite ongoing regional conflict.

Key Takeaways

• 1.Oil prices surged significantly (Brent >$105/b) after US rejection of Iran's peace proposal and heightening risks in the Strait of Hormuz.
• 2.Saudi Aramco reported a 26% y/y increase in Q1 profit to $33.6bn, aided by rerouting exports through the East-West pipeline to bypass Hormuz.
• 3.S&P affirmed Israel's 'A' credit rating with a stable outlook, expressing confidence in its economic resilience despite regional conflicts.

Table of Contents

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

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