IMF Watches Energy Price Drop After Iran Deal

The International Monetary Fund stated that energy and commodity prices have decreased since the United States and Iran agreed to a ceasefire and the opening of the Strait of Hormuz. However, the return of prices and trade flows in the Gulf region to their normal levels will take time, as maritime activity gradually resumes. The Fund expects to determine in its upcoming report the extent to which the three global economic growth scenarios will continue, with a shift in May toward a more pessimistic scenario predicting a 2.5% growth rate in 2025 due to the ongoing closure of the strait and oil prices remaining above $100 per barrel.