IMF: Oil prices near April forecasts

The International Monetary Fund stated that oil prices are approaching the levels it forecasted in April, with Brent crude remaining around $94.79 per barrel for the futures contract, despite market fluctuations and a decline in global reserves. It noted that price stability largely depends on the duration of the war and the reopening of the Strait of Hormuz, with expectations that global economic growth may decrease to 2.5% this year if the conflict continues.

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