Key Economic Developments and News – Monday, September 28, 2026

1. Energy and Oil Markets

- Rise in Brent and WTI Crude: Oil prices climbed by more than 2.5%, with Brent crude touching the $105–$107 per barrel range. This surge was driven by ongoing geopolitical tensions and continued stalemates in negotiations regarding tanker transit through the Strait of Hormuz.

- Reports on Aramco’s Plans: Reports circulated regarding a potential collaboration between Saudi Aramco and Evercore to explore strategic options for establishing a dedicated gas unit.

2. Metals, Currencies, and Digital Markets

- Sharp decline in gold prices: Spot gold prices fell by more than 2%, trading near the $4,190 per ounce level, weighed down by a strong dollar and rising US bond yields.

- Bitcoin under pressure: Bitcoin retreated to the $83,000 level, pressured by US Treasury yields and geopolitical concerns.

3. Global Economy and International Trade

- Trade Truce Between Washington and Beijing: The United States and China announced a mutual reduction in tariffs amounting to approximately $30 billion on each side, alongside an agreement to extend the trade truce and open avenues for broader cooperation in the technology and agriculture sectors.

- US Interest Rate Indicators: Markets are awaiting the release of US non-farm payroll data and inflation indicators, amid expectations that the Federal Reserve might adopt a more cautious stance regarding interest rate levels.

4. Regional Economic Affairs

- Egypt’s Electricity Interconnection: Egypt and Sudan have reached an agreement in principle to increase their electricity interconnection capacity to 100 megawatts, alongside the announcement that preparations are complete for a 3,000-megawatt interconnection with Saudi Arabia.

- Syria’s Banking Sector: Estimates by the Central Bank of Syria indicate a potential influx of over $1 billion in foreign capital to establish new banks and develop the banking sector.