Report published September 28, 2026
Middle East Daily: Energy Risks Drive Oil Higher, Gold Drops on Rate Fears, and Oman Outlook Improves
MUFG · September 28, 2026
Brent climbed to around USD 106/b as US-Iran negotiations over the Strait of Hormuz stalled, stoking inflation fears that weighed on gold. Meanwhile, regional credit saw heavy selling, but S&P affirmed Oman at BBB- with upgraded 3.5% GDP growth due to its Arabian Sea export ports.
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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 rallied with Brent near USD 106/b and WTI over USD 93/b as US-Iran talks over reopening the Strait of Hormuz stalled.
- 2.S&P affirmed Oman's BBB-/A-3 sovereign ratings with a stable outlook and upgraded 2026 GDP growth to 3.5%, citing bypass export capability via Arabian Sea ports.
- 3.Middle East credit markets faced heavy selling and a 'buyer strike' with long-end ADGB and new Qatar bonds widening significantly.
Table of Contents
- COMMODITIES / ENERGY
- OMAN FSICAL BALANCE FORECAST (% OF GDP)
- MIDDLE EAST – CREDIT TRADING
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
Report data
OMAN FSICAL BALANCE FORECAST (% OF GDP)
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude Price | 107.25 USD/b | Brent crude daily closing price in commodities table |
| WTI Crude Price | 94.10 USD/b | WTI crude daily closing price |
| Gold Price | 4177 USD/oz | Gold closing price in market indicators table |
| Oman 2026 Real GDP Growth Forecast | 3.5% | S&P upgraded Oman's 2026 real GDP growth forecast due to uninterrupted hydrocarbon exports |
| Oman 2026 Fiscal Balance Forecast | 4.8 % of GDP | S&P expectation for Oman's fiscal surplus in 2026 |
Reports in this series
Middle East Daily is shown in chronological order through this edition, published on September 28, 2026.
Part of the Middle East Daily series — view all 67 editions
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