Report published September 30, 2026
Middle East Daily: Energy Market Stabilization & GCC Credit Trends
MUFG · September 30, 2026
Crude oil stabilized near USD 103/b as Middle East export recovery and Saudi pipeline rerouting eased supply fears, while gold held near USD 4,180/oz. In regional credit, GCC debt attempted to stabilize amid higher trading volumes, though late-session US Treasury steepening weighed on long-end duration.
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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.Oil prices stabilized near USD 103/b as recovering Middle East crude flows and Saudi pipeline throughput relieved supply disruption concerns, even as refined products remain tight.
- 2.GCC credit trading saw an uptick in clearing activity, though late-day steepening in US Treasuries triggered renewed selling in long-duration bonds.
- 3.Oman is doubling crude storage at Duqm to 10mb in the near term and planning up to 40mb long term to bypass Strait of Hormuz chokepoint vulnerabilities.
Table of Contents
- COMMODITIES / ENERGY
- MIDDLE EAST – CREDIT TRADING
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
Report data
US AND GCC INFLATION
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude Price | 102.59 USD/b | Oil steadied after sharpest decline in over a week as Middle East exports recovered. |
| VLCC Freight Rates (Gulf-to-China route) | 1.0 million USD/day | Soaring shipping costs amid persistent Strait of Hormuz disruptions. |
| Qatar Headline CPI Inflation (y/y) | 3.98% | Qatar CPI rose to 102.78 under new 2024 base year. |
| Duqm Planned Onshore Storage Capacity | 10.0 million barrels | State energy company OQ expands Arabian Sea storage to bypass Hormuz. |
| Middle East Diesel and Gasoline Exports Relative to Pre-War | 58.0% | Refined-product markets remain tight amid constrained capacity and Russian export bans. |
Reports in this series
Middle East Daily is shown in chronological order through this edition, published on September 30, 2026.
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