Regional conflict between Israel and Iran has driven oil prices higher and gold lower, while Turkey faces persistent inflationary pressures. Markets remain cautious as geopolitical tensions disrupt energy flows through the Strait of Hormuz.
Key Takeaways
- 1.Oil prices surged due to renewed Israel-Iran clashes and geopolitical uncertainty regarding Strait of Hormuz supply flows.
- 2.Turkey's annual inflation increased to 32.6% in May due to elevated energy costs, though monthly inflation shows signs of slowing.
- 3.Saudi Aramco reduced official selling prices (OSP) for Asia, reflecting softer demand and potential easing of physical market tightness.
Table of Contents
- COMMODITIES / ENERGY
- MIDDLE EAST – CREDIT TRADING
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
- DISCLAIMER
- CERTIFICATION
- LEGAL ENTITIES AND BRANCHES
- GENERAL DISCLAIMERS
- COUNTRY AND REGION SPECIFIC DISCLAIMERS
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Authors
Soojin Kim
Securities
Brent CrudeOman 31s
Themes
Geopolitical RiskInflationary PressuresEnergy Market Dynamics
Regions
Middle EastAsia PacificIsraelIranTurkey