News Summary

• The worst-case oil scenario has been avoided, but inflation and slower growth continue to weigh on the global economy.
• More than 100 days into the Iran conflict, 20 percent of the world’s energy flows remain disrupted.
• Many analysts have warned that a prolonged disruption to the Strait of Hormuz could send oil above $200 a barrel, triggering a global economic crisis.
• The Organisation for Economic Co-operation and Development (OECD) warns the economic impact could linger well into 2027, even if the conflict ends tomorrow.