Middle East Daily

MUFG's report highlights a sustained rally in oil prices due to US-Iran tensions and a significant GDP contraction in Israel for Q1 2026. Global markets remain volatile as inflation fears linked to energy disruptions weigh on gold and bond pricing.

Key Takeaways

• 1.Oil prices continued their rally, with Brent exceeding USD 111/oz, driven by intensified US pressure on Iran and ongoing supply disruptions in the Strait of Hormuz.
• 2.Gold prices fell toward USD 4,480/oz as persistent regional tensions fueled inflation concerns and pushed global bond yields higher.
• 3.Israel's economy contracted at a 3.3% annualised rate in Q1 2026, reflecting the impact of geopolitical pressures on private consumption and government spending.

Table of Contents

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

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