Middle East Daily

This report covers market updates for the Middle East, highlighting regional geopolitical tensions, energy supply risks, and the Central Bank of Egypt's decision to maintain interest rates.

Key Takeaways

• 1.Oil markets are balancing ongoing US-Iran negotiations against security risks in the Strait of Hormuz, which have reduced tanker traffic.
• 2.The Central Bank of Egypt kept interest rates unchanged at 19% deposit and 20% lending, reflecting moderating inflation.
• 3.Turkey and Iraq are expected to extend the Kirkuk-Ceyhan pipeline agreement, diversifying Iraq's export infrastructure.

Table of Contents

• COMMODITIES / ENERGY
• EGYPT HOLD RATES AS INFLATION CONTINUES TO MODERATE
• MIDDLE EAST – CREDIT TRADING
• MIDDLE EAST – MACRO / MARKETS
• CALENDAR – DATA / EVENTS / MEETINGS

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