Middle East Daily

Middle East markets are focused on the continued closure of the Strait of Hormuz which is driving oil prices higher, while Saudi inflation shows signs of easing. Regional credit markets are seeing low-volume rallies and the IMF is advancing reviews for Egyptian financing.

Key Takeaways

• 1.Oil prices are trending toward weekly gains of approximately 6% as the Strait of Hormuz remains effectively closed due to regional conflict.
• 2.Saudi Arabia's annual inflation slowed to 1.7% in April, its lowest level in 15 months, despite rising housing costs.
• 3.The IMF is progressing with its review of Egypt's economic reform program, which could unlock roughly USD 1.6 billion in new financing.

Table of Contents

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

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