High oil prices help Gulf states weather regional turmoil

High oil prices help Gulf states weather regional turmoil Major global credit rating agencies have maintained the sovereign ratings of key Gulf states despite the economic uncertainty caused by the war with Iran and disruptions in the Strait of Hormuz. According to reports published by Investing. com citing data from Moody’s, Fitch and S&P Global Ratings, the agencies pointed to large sovereign wealth assets, strong financial reserves and elevated oil prices as factors supporting the region’s creditworthiness.