Pre-Trading Thoughts

*Key news articles for today* A number of recent agreements with Gulf and local investors had a positive response from the IMF. Egypt has bought new hedging contracts to protect itself from rising oil prices, Finance Minister said. The derivatives will remain in place until the end of the current fiscal year in June. Press said that contracts lock in crude purchases at around USD 75-80 per barrel. Egypt gas production inched up by 1.8% MoM in July, recording 5 bcm. During 7M2023, production ...