GCC Macro Daily(Beta Mode)
Hormuz Tanker Strikes Draw GCC Rebuke
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 26.48 | -0.45% |
| MSCI Saudi | 37.83 | -0.13% |
| MSCI UAE | 19.62 | +0.15% |
| MSCI Qatar | 17.64 | -0.03% |
| MSCI Kuwait | 37.38 | -0.33% |
| Brent Crude | 88.52 | +1.67% |
| WTI Crude | 82.40 | +1.42% |
| Gold | 4,380.40 | +0.38% |
| USD/SAR | 3.75 | +3.80% |
| USD/AED | 3.67 | +0.03% |
| USD/KWD | 0.31 | -0.36% |
| Bitcoin | 63,054.45 | +0.13% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Aramco vs Brent 3M | Type: market_hloc | Aramco SAR: 26.48 (2026-08-13) | Range: 26.1–27.61 | Trend(6pt): 27.57,27.16,26.6,26.8,26.6,26.48 | Brent USD/bbl: 88.52 (2026-08-14) | Range: 71.57–112.1 | Trend(6pt): 109.3,94.25,72.92,94.07,88.98,88.52
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- UAE oil tankers targeted in Strait of Hormuz, drawing swift condemnation from Saudi Arabia, Qatar and Kuwait.
- Brent crude rises 1.67% to $88.52 while MSCI UAE edges up 0.15% and Saudi Aramco slips 0.45%.
- Saudi inflation holds at 1.8% with POS spending remaining above $3.5bn despite weekly slowdown.
Yesterday's Recap
UAE state oil company confirmed a vessel was attacked in the Strait of Hormuz, triggering coordinated statements from Saudi Arabia, Qatar and Kuwait condemning the strikes. Saudi Arabia additionally highlighted repeated Iranian actions against UAE tankers, underscoring regional security risks. Saudi inflation stayed steady at 1.8% amid global commodity volatility, while point-of-sale spending held above $3.5bn.
Equity markets showed modest moves, with MSCI UAE gaining 0.15% and MSCI Saudi declining 0.13%. Brent crude advanced 1.67% to $88.52 on supply concerns, and WTI rose 1.42%. USD/SAR moved 3.80% higher while USD/AED remained nearly flat.
Gold climbed 0.38% as investors sought safe-haven assets. MSCI Qatar fell 0.03% and MSCI Kuwait declined 0.33%, reflecting limited spillover. No major equity block trades were reported and volumes stayed average across GCC exchanges.
The Day Ahead
Regional authorities will monitor shipping lanes in the Strait of Hormuz following the tanker incidents. Saudi Arabia continues advancing its digital-economy initiatives through new infrastructure partnerships. UAE gaming and financial regulators are set to implement enhanced oversight under their recently signed cooperation agreement.
OPEC+ members maintain the existing 5.86 mb/d voluntary cuts with no signals of early adjustment. Kuwait faces ongoing scrutiny over its heavy reliance on Hormuz transit routes for oil exports. Broader GCC equity trading volumes are expected to remain average absent fresh data releases.
Saudi Arabia’s non-oil diversification efforts under Vision 2030 receive further emphasis on technology alliances. Regional refinery utilisation is projected near 88% supported by middle-distillate margins.
Other Economic Notes
Saudi Arabia is accelerating non-oil diversification under Vision 2030, with fresh emphasis on digital infrastructure and global technology alliances. UAE non-oil PMI data from earlier in the week pointed to sustained expansion in new export orders. Regional refinery utilisation stayed near 88%, supported by healthy middle-distillate margins.
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