GCC Macro Daily(Beta Mode)
Oil Slumps on Hormuz Doubts
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 27.52 | -0.07% |
| MSCI Saudi | 40.59 | +0.54% |
| MSCI UAE | 20.40 | +3.08% |
| DFM General | 5,987.42 | +0.98% |
| MSCI Qatar | 19.38 | +0.42% |
| MSCI Kuwait | 38.82 | -0.04% |
| Brent Crude | 90.38 | -9.07% |
| WTI Crude | 83.85 | -11.45% |
| Gold | 4,857.60 | +1.51% |
| USD/SAR | 3.75 | +0.10% |
| USD/AED | 3.67 | +0.02% |
| USD/KWD | 0.31 | -0.74% |
| Bitcoin | 75,521.23 | -2.08% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude Price Trend | Type: macro_line | Brent Price ($/bbl): 123.3 (2026-04-13) | Range: 59.93–138.2 | Trend(6pt): 65.34,112.3,94.33,79.76,119,123.3
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Brent crude tumbled 9% amid skepticism over US-Iran talks resolving Hormuz disruptions, weighing on GCC export revenues.
- UAE markets surged 3% on robust banking assets and trade figures, highlighting non-oil sector strength.
- Saudi Arabia boosted aviation and logistics with new aircraft and Neom as a key hub, aiding diversification.
Yesterday's Recap
GCC markets showed varied performances with no significant economic data releases. Saudi Arabia's MSCI Saudi index gained 0.54% to 40.59, supported by steady trading, though Saudi Aramco dipped 0.07% to 27.52 despite flyadeal's launch of Airbus A330-900neo aircraft for enhanced travel. UAE equities shone, with the MSCI UAE index up 3.08% to 20.40 and DFM General rising 0.98% to 5,987.42, driven by $1.49 trillion in banking assets and $1.63 trillion in trade, underscoring economic resilience.
Qatar's MSCI Qatar index increased 0.42% to 19.38, while Kuwait's MSCI Kuwait edged down 0.04% to 38.82, with USD/KWD dropping 0.74% due to basket adjustments. Oil prices fell sharply, with Brent down 9.07% to 90.38 and WTI declining 11.45% to 83.85, fueled by doubts on US-Iran ceasefire easing Hormuz tensions, affecting hydrocarbon-dependent GCC budgets. Bahrain and Oman saw minimal activity, while Saudi Arabia's $3 billion deposit rollover to Pakistan demonstrated financial support efforts.
The Day Ahead
No major economic events are scheduled for GCC countries, shifting focus to geopolitical developments in the Strait of Hormuz, where ongoing US-Iran talks could influence tanker traffic and oil volatility. Saudi Arabia anticipates updates on Hajj logistics, including 3.1 million seats and 12,000 flights for pilgrims, potentially lifting transport and tourism. UAE may see follow-through on ambassador credentials and community events like Dubai Police flag distributions, reinforcing unity amid strong growth.
Qatar and Kuwait likely face calm sessions, with OPEC+ discussions possibly affecting energy sentiment; Oman and Bahrain could prioritize fiscal responses to lower oil prices.
Other Economic Notes
GCC nations advance non-oil strategies, with Saudi Arabia repositioning Neom as a logistics anchor for sustained growth. UAE's banking sector, with $1.49 trillion in assets, bolsters financial stability against oil fluctuations. Energy security remains key, as Hormuz risks increase costs for global importers, encouraging GCC shifts to renewables and LNG.
Saudi POS spending above $3.5 billion signals consumer resilience, while regional aid like Pakistan support highlights economic outreach.
