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MUFG

June 5, 2026

Middle East Daily

Daily UpdateCommoditiesRates CreditEquitiesEnergyFinancials

The report highlights market volatility driven by Middle East geopolitical tensions, specifically noting the impact of US-Iran negotiations on oil and gold prices. It also provides a macroeconomic outlook for the region, noting resilient growth for Saudi Arabia alongside diverging trends in non-GCC economies.

Key Takeaways

  • 1.Oil prices stabilized as optimism over US-Iran negotiations balanced regional tensions in Lebanon.
  • 2.The IMF maintains a resilient outlook for the Saudi economy despite regional conflict, expecting 2% growth in 2026.
  • 3.Credit markets remained weak and heavy, characterized by spread widening and light client flows.

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 CrudeWTI CrudeXAU

Themes

Geopolitical TensionStrait of Hormuz DisruptionsDiversification of Gulf Economies

Regions

Middle EastSaudi ArabiaIranLebanon