IMF Reports Drop in Energy and Commodities
The International Monetary Fund discussed the decline in energy and commodity prices following the United States and Iran's agreement to cease hostilities and open the Strait of Hormuz. It emphasized that the return of prices and trade flows in the Gulf will take time. The IMF indicated that the global economy shifted in May from an optimistic to a more pessimistic scenario, with a predicted global growth rate of 2.5% in 2025, amid the ongoing closure of the Strait of Hormuz and oil prices exceeding $100 per barrel.
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