GCC Macro Daily(Beta Mode)
Houthi Attacks Pressure Saudi Non-Oil Economy
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 25.40 | -0.70% |
| MSCI Saudi | 33.69 | -0.03% |
| MSCI UAE | 19.05 | -1.14% |
| MSCI Qatar | 15.18 | -0.74% |
| MSCI Kuwait | 34.32 | -0.71% |
| Brent Crude | 109.59 | -6.11% |
| WTI Crude | 100.73 | -2.46% |
| Gold | 4,019.60 | +0.29% |
| USD/SAR | 3.75 | +3.19% |
| USD/AED | 3.67 | +0.03% |
| USD/KWD | 0.31 | -0.74% |
| Bitcoin | 79,529.34 | -0.62% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
GCC Policy Rates (BIS) | Type: macro_line | KSA Rate %: 4.5 (2026-10-13) | Range: 1–6 | Trend(5pt): 1,5,6,5,4.5
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| GDP Growth Year-over-Year Preliminary | -4.70 | - | 01:00 |
- Saudi equities and Aramco shares decline as Houthi drone attacks intensify
- Brent crude drops sharply over 6% on heightened supply disruption fears
- Saudi GDP preliminary release scheduled for November 1 draws attention
Yesterday's Recap
Saudi Arabia faced renewed Houthi drone and missile activity targeting southern regions, Riyadh and Najran, with the Saudi-led coalition reporting that air defenses intercepted multiple projectiles including four drones and additional missiles. Equity markets reflected the tension, as MSCI Saudi slipped 0.03% to 33.69 and Saudi Aramco fell 0.70% to 25.40. MSCI UAE declined 1.14% to 19.05 while MSCI Qatar slipped 0.74% to 15.18 and MSCI Kuwait posted a 0.71% loss to 34.32.
Brent crude tumbled 6.11% to 109.59 amid concerns over Red Sea and southern Saudi security, though WTI fell a milder 2.46% to 100.73. Gold rose 0.29% to 4,019.60. Saudi Arabia advanced plans to store crude in Singapore to secure Asian supply routes.
The non-oil economy came under renewed scrutiny as attacks highlighted vulnerabilities beyond the energy sector. UAE authorities closed beaches in Ras Al-Khaimah following a tanker oil spill that disrupted coastal activity. Etihad extended flight cancellations on Abu Dhabi–Saudi routes amid regional disruption.
Saudi Arabia postponed two notable forums to 2027.
The Day Ahead
Saudi Arabia’s GDP growth year-over-year preliminary figure is due November 1 and will provide the first read on third-quarter performance. No other major data releases are scheduled across the GCC today. Markets will monitor any further security updates from the Saudi-led coalition regarding Houthi activity.
Traders will also track movements in Brent and regional equity indices for signs of sustained risk aversion. UAE flight schedules remain subject to adjustments linked to regional disruptions. Dubai Police warned of fake part-time job offers targeting jobseekers while new November rules, Etihad Rail stations and road changes take effect.
Other Economic Notes
Saudi Arabia continues to accelerate digital infrastructure investments and global partnerships to support Vision 2030 diversification goals, including advanced infrastructure projects highlighted by the Saudi Press Agency. Postponement of two major forums until 2027 reflects shifting priorities amid security pressures. QatarEnergy is actively sourcing additional US LNG cargoes to manage potential supply gaps from ongoing regional tensions, while a Lucky Group–QatarEnergy consortium withdrew from the Port Qasim LNG terminal plan over policy changes.
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