Middle East Daily

Middle East markets are balancing a fragile Israel-Lebanon ceasefire against persistent US-Iran tensions and supply disruptions in the Strait of Hormuz. While oil prices have eased slightly, credit markets remain under pressure following regional flare-ups, including an attack on Kuwait's airport.

Key Takeaways

• 1.Oil prices have softened slightly due to an Israel-Lebanon ceasefire agreement, though they remain elevated due to the ongoing US-Iran truce negotiations and disruptions in the Strait of Hormuz.
• 2.Regional credit sentiment weakened following an attack on Kuwait's airport and overnight fire between the US and Iran, leading to spread widening in major sovereign names like ADGB and Qatar.
• 3.Kuwait is actively seeking alternative oil export routes and increased overseas storage capacity as the Strait of Hormuz remains unsafe for energy shipments.

Table of Contents

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

Document Preview

Page 1 of 1

Subscribe for full accessStart Free Trial