MUFG
June 2, 2026
Middle East Daily
Daily UpdateCommoditiesRates CreditMacro Economic IndicatorsEnergyFinancials
The MUFG Middle East Daily reports that oil prices are steadying amid high uncertainty over US-Iran negotiations and potential maritime disruptions. Meanwhile, Turkey's GDP growth has slowed due to tight policy and regional conflict risks.
Key Takeaways
- 1.Uncertainty surrounding US-Iran negotiations is creating volatility in oil and gold markets, with potential disruptions to the Strait of Hormuz remaining a primary concern.
- 2.Turkey's economic growth slowed to 2.5% y/y in Q1 2026 as tight monetary policy and regional war risks impacted activity.
- 3.Middle East credit markets shifted to seller-initiated flows following the suspension of US-Iran negotiations and threats to regional shipping straits.
Table of Contents
- COMMODITIES / ENERGY
- MIDDLE EAST – CREDIT TRADING
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
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Authors
Soojin Kim
Securities
Brent CrudeWTIXAUMOROC
Themes
Geopolitical VolatilityStagflationary PressuresSupply Chain and Energy Security
Regions
Middle EastNorth AmericaAfricaTurkeyJordanIran