US rates trump oil rally in ME quest for cash

AdobeStock_oil_market_575x375_08March2021
By Mariam Meskin
08 Mar 2021

Rising oil prices will boost economic growth across the Middle East, possibly reducing reliance on capital markets funding. But the immediate concern for markets will be the path of interest rates.

Low oil prices last year were one of the factors that drove higher volumes of Middle East issuance in the debt capital markets.

But the price of Brent Crude oil jumped to more than $70 per barrel on Monday morning, settling to $69.66 by Thursday evening — just higher ...

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