Middle East Daily

The report highlights a significant escalation in Middle East geopolitical tensions following US strikes on Iran, causing a spike in oil prices. Meanwhile, Iraq is normalizing oil exports despite regional volatility, and Egypt reports its weakest non-oil PMI reading in years.

Key Takeaways

• 1.Geopolitical tensions in the Middle East have escalated significantly following US airstrikes on Iran, leading to a surge in oil prices.
• 2.Iraq has restored oil output at three major southern fields as export bottlenecks ease in the Strait of Hormuz.
• 3.Egypt's non-oil private sector PMI declined to 46.0 in June, the lowest level since early 2023, reflecting a challenging operating environment.

Table of Contents

• COMMODITIES / ENERGY
• IRAQ OIL EXPORTS ('000 B/D)
• MIDDLE EAST – CREDIT TRADING
• MIDDLE EAST – MACRO / MARKETS
• CALENDAR – DATA / EVENTS / MEETINGS

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