GCC Macro Daily(Beta Mode)
Saudi Growth Boosts GCC Outlook
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 27.36 | -0.87% |
| MSCI Saudi | 40.30 | +0.27% |
| MSCI UAE | 19.92 | +1.79% |
| DFM General | 5,866.31 | +2.57% |
| MSCI Qatar | 19.24 | +0.40% |
| MSCI Kuwait | 37.72 | +0.23% |
| Brent Crude | 95.02 | +0.24% |
| WTI Crude | 91.43 | +0.16% |
| Gold | 4,842.20 | +0.36% |
| USD/SAR | 3.75 | +0.09% |
| USD/AED | 3.67 | +0.04% |
| USD/KWD | 0.31 | -0.66% |
| Bitcoin | 74,962.74 | +1.05% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent vs WTI Oil Prices | Type: macro_line | Brent $/bbl: 123.3 (2026-04-13) | Range: 59.93–138.2 | Trend(5pt): 66.54,112.3,90.99,82.39,123.3 | WTI $/bbl: 100.7 (2026-04-13) | Range: 55.44–123.6 | Trend(5pt): 63.33,97.79,85.89,77.27,100.7
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- IMF forecasts 3.1% Saudi GDP growth in 2026, highlighting non-oil diversification amid stable oil prices.
- GCC equities mixed with UAE leading gains; Brent holds above $95 amid global energy dynamics.
- Geopolitical talks on Iran and Hormuz underscore regional stability risks for oil supply.
Yesterday's Recap
GCC markets showed mixed performance with UAE equities outperforming amid broader regional gains. The MSCI UAE index rose 1.79%, driven by strong real estate and telecom sectors, while Dubai's DFM General surged 2.57% on positive sentiment from local events like flag celebrations and business expansions. In Saudi Arabia, the MSCI Saudi index edged up 0.27%, though Saudi Aramco shares dipped 0.87% despite Brent crude's modest 0.24% gain to $95.02.
Qatar's MSCI index increased 0.40%, supported by industrial firmness, and Kuwait's MSCI rose 0.23% with stable currency moves. Overall, oil's stability bolstered fiscal outlooks, particularly for Saudi Arabia and UAE, where non-oil initiatives like Abu Dhabi's petrochemical mergers added to market resilience.
The Day Ahead
With no major data releases scheduled, attention turns to ongoing geopolitical developments, including talks involving Saudi Arabia, Qatar, and others on the Iran conflict and Hormuz tensions. Investors will monitor any updates from Pakistan's PM visit to Saudi Arabia, which could signal extended financial support impacting regional stability. Qatar's emphasis on de-escalation in the Strait of Hormuz may influence oil risk premia.
Broader GCC focus includes UAE's trade expansions, such as the new Dubai Chambers office in Manila, potentially boosting Philippines ties. Market participants await any OPEC+ signals on production amid steady Brent levels.
Other Economic Notes
Saudi Arabia's National Transformation Program continues to drive diversification beyond oil, with initiatives like quantum economy blueprints and bridges to African markets enhancing long-term growth prospects. UAE's energy sector advances, including upbeat European M&A outlook and healthcare expansions like Burjeel Hospital's Korean Pavilion, support non-oil GDP contributions. Broader themes include resilient GCC economies amid global energy crises, as seen in IMF's positive Saudi forecast, though execution milestones in Saudi raise human rights concerns.
Global Macro News
Global oil prices remained firm with Brent at $95.02 and WTI at $91.43, influenced by warnings from the US energy chief that prices may peak soon due to Iran-related disruptions. (cont...)
