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MUFG

July 7, 2026

Middle East Daily

Daily UpdateCommoditiesMacro Economic IndicatorsRates CreditEnergy

This report covers the impact of regional geopolitical tensions in the Strait of Hormuz on energy and commodity prices, alongside central bank policy developments in Israel and IMF outlooks for Algeria.

Key Takeaways

  • 1.Oil prices rose due to security risks in the Strait of Hormuz, though gains are limited by increased supply.
  • 2.The Bank of Israel cut interest rates by 25bps to 3.5% as inflation eased.
  • 3.IMF projects Algeria's economy to grow by 3.8% in 2026, urging structural reforms.

Table of Contents

  • COMMODITIES / ENERGY
  • ISRAEL TURNS MORE DOVINS AS INFLATION OUTLOOK IMPROVES
  • MIDDLE EAST – CREDIT TRADING
  • MIDDLE EAST – MACRO / MARKETS
  • CALENDAR – DATA / EVENTS / MEETINGS

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Authors

Soojin Kim

Securities

Brent CrudeWTI Crude

Themes

Geopolitical risk in Strait of HormuzMonetary easing

Regions

Middle EastIsraelAlgeriaSaudi Arabia