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MUFG

May 12, 2026

Middle East Daily

Daily UpdateCommoditiesRates CreditMacro Economic IndicatorsEnergyFinancials

Middle East markets are navigating heightened volatility as President Trump questions the Iran ceasefire, while Egypt secures USD 1bn in World Bank funding and Qatar shifts reserves toward gold.

Key Takeaways

  • 1.Oil prices have risen toward USD 105/b (Brent) as geopolitical tensions escalate following President Trump's skepticism regarding the Iran ceasefire.
  • 2.Middle East credit markets showed resilience with tighter spreads despite higher oil prices and US Treasury yields.
  • 3.The World Bank approved a USD 1bn package for Egypt to support private-sector growth and green economic transitions.

Table of Contents

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

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Authors

Soojin Kim

Securities

Brent CrudeWTIQPETRO 31sALDARMSCI GCC

Themes

Strait of Hormuz Supply DisruptionsGeopolitical Deadlock and Safe-Haven Demand

Regions

Middle EastUnited Arab EmiratesEgyptQatar