The escalation of the conflict between Israel and Iran has largely been shrugged off by the oil market and risk premia in the Gulf remain low. Even so, growth will remain weak in the Gulf this year. There will be bigger macro consequences from geopolitical tensions for Jordan and Egypt, although external financial support should limit the risk of balance sheet strains.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.