Report published September 25, 2026
MUFG Middle East Daily: Strait of Hormuz Negotiations, Crude Volatility, and Regional Credit Pressure
MUFG · September 25, 2026
Crude oil pulled back as US and Iranian negotiators discussed reopening the Strait of Hormuz, while gold fell on higher US Treasury yields. Meanwhile, Middle East credit trading endured broad-based spread widening, and the Central Bank of Egypt held policy rates steady at 19%.
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Finvaulta summarizes MUFG's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Crude oil retreated (Brent near USD 105/b, WTI sub-USD 93/b) on prospects of US-Iran negotiations regarding reopening the Strait of Hormuz, though physical supply remains exceptionally tight.
- 2.Middle East credit markets saw notable weakness across sovereign, quasi-sovereign, and financial names amid wider macro risk-off sentiment and selling by ETFs and dealers.
- 3.The Central Bank of Egypt kept its benchmark deposit rate at 19% and lending rate at 20% for a fifth consecutive meeting, balancing easing inflation against geopolitical and energy price risks.
Table of Contents
- COMMODITIES / ENERGY
- MIDDLE EAST – CREDIT TRADING
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
Report data
EGYPT HOLDS RATES AS INFLATION RISKS PERSIST — as of September 24, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude Price | 105.04 USD/b | Brent crude price retreat recorded in commodities summary table. |
| WTI Crude Price | 92.50 USD/b | WTI price retreat below USD 93/b. |
| US 30-Year Treasury Yield | 5.5% | US 30-year Treasury yield approaching highest level in over two decades. |
| CBE Deposit Rate | 19.0% | Central Bank of Egypt held deposit rate for fifth consecutive meeting. |
| CBE Lending Rate | 20.0% | Central Bank of Egypt lending rate held unchanged. |
Reports in this series
Middle East Daily is shown in chronological order through this edition, published on September 25, 2026.
Part of the Middle East Daily series — view all 67 editions
Looking for the latest edition? Middle East (Oct 13, 2026)
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