Middle East Daily

MUFG's daily update highlights how renewed Trump-Iran tensions are supporting high oil prices while driving a selloff in gold and bonds. It also analyzes diverging inflation trends in the GCC and Oman's robust Q1 fiscal performance.

Key Takeaways

• 1.Oil prices are holding near recent highs due to renewed military threats from President Trump toward Iran and ongoing disruptions in the Strait of Hormuz.
• 2.Gold is facing a selloff, down 15% since the conflict began, as rising inflation fears push global bond yields higher and reduce hopes for interest rate cuts.
• 3.Inflation trends in the GCC are diverging; Qatar's inflation slowed to 2.6% in April 2026, while Kuwait's rose to 2.6% due to higher war-related supply costs.

Table of Contents

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

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