GCC Macro Daily(Beta Mode)
Saudi Exports Climb as Red Sea Tensions Rise
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 26.84 | +0.98% |
| MSCI Saudi | 37.07 | -0.11% |
| MSCI UAE | 18.86 | -0.11% |
| DFM General | 5,895.93 | -0.26% |
| MSCI Qatar | 17.53 | +0.29% |
| MSCI Kuwait | 35.92 | -0.00% |
| Brent Crude | 93.19 | -3.71% |
| WTI Crude | 85.53 | -4.23% |
| Gold | 4,097.70 | +0.74% |
| USD/SAR | 3.75 | +3.36% |
| USD/AED | 3.67 | +0.00% |
| USD/KWD | 0.31 | -0.57% |
| Bitcoin | 65,173.65 | +1.34% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Brent Crude 3M | Type: market_hloc | Brent (USD/bbl): 92.96 (2026-07-27) | Range: 71.57–118 | Trend(6pt): 108.2,112.1,91.45,71.57,100.7,92.96
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| GDP Growth Year-over-Year Preliminary | 3 | - | 02:00 |
- Saudi trade surplus widens to $6.9bn in May as oil exports rebound nearly 20%.
- Brent crude falls 3.7% to $93.19 on supply concerns despite higher Saudi shipments.
- Aramco rises 1% while regional equities post modest declines.
Yesterday's Recap
Saudi Arabia reported a sharp rebound in oil exports that lifted the May trade surplus to $6.9bn. Houthi rebels claimed a rocket attack on Saudi territory and a vessel in the Red Sea, heightening supply-risk premiums. Saudi Aramco gained 0.98% to 26.84 while MSCI Saudi slipped 0.11%.
Brent and WTI crude dropped 3.71% and 4.23% respectively as two Chinese supertankers carrying Saudi oil exited the Red Sea. UAE and Qatar equity indices closed marginally lower. Kuwait’s market was flat.
No major data releases occurred across the GCC on 25 July. POS transaction volumes reached $3.5bn, underscoring non-oil activity in freight and courier sectors. Saudi Arabia maintained its lead in regional digital-government services rankings for the fourth consecutive year.
Uzbekistan and Saudi Arabia agreed to accelerate joint investment projects under existing frameworks.
The Day Ahead
Saudi Arabia will release preliminary GDP growth year-over-year data on 30 July, with consensus expectations centered on continued non-oil expansion. Regional equity and fixed-income markets are expected to monitor Red Sea shipping updates closely. UAE and Qatar bourses face light calendars but remain sensitive to oil-price swings.
Kuwait and Oman will track interbank liquidity amid stable peg conditions. Investors will also watch any OPEC+ commentary on production compliance. Europe extended aviation warnings for UAE, Bahrain, Qatar and Kuwait airspace until 31 August.
UAE carriers including Emirates, Etihad, flydubai and Air Arabia issued updated flight advisories amid ongoing regional alerts from the US, UK, Canada and Australia.
Other Economic Notes
Saudi Arabia continues to advance Vision 2030 non-oil diversification, evidenced by rising POS transaction volumes reaching $3.5bn. Digital-government services rankings place the kingdom first regionally for the fourth straight year. Broader GCC economies benefit from elevated oil revenues that support fiscal buffers and sovereign-credit profiles.
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