- Oil fell to a three-month low of $39 on demand weakness and rising stocks.
- Coronavirus cases are rising sharply again in Bahrain and UAE.
- Bahrain issued $2bn at lower yields than a year ago but couldn’t sell a 30yr tranche.
- Oman is making preparations for a local sukuk and an international bond.
- Saudi commuted death sentences for Khashoggi killers and Trump said he saved MBS’s “ass”.
- The Arab League rejected a Palestinian resolution to condemn UAE-Israel normalisation.
- Qatar published the first official forecasts in two years, seeing weak growth but a return to fiscal balance by 2022.
- A US official hinted at the prospect of imminent progress on the Gulf dispute, but this is unlikely.
- Kuwait insisted the Emir’s condition was stable amidst unsubstantiated rumours of his death.
- Libyan talks seemed to make some progress, but didn’t involve warlord Khalifa Haftar.
- The US is moving ahead with rapid troop drawdown from Iraq.
Read the full Report here.
