The ongoing US-Iran conflict remains an important factor for global financial markets, particularly because of its impact on energy supplies and shipping through the Strait of Hormuz. Mediators are continuing efforts to bridge differences between Washington and Tehran, with proposals involving the reopening of the strategic waterway and easing some restrictions.
The geopolitical uncertainty has kept crude prices elevated even as Middle Eastern oil exports begin recovering. Brent crude was around $103 a barrel on Wednesday, while concerns over prolonged supply disruptions continue to influence inflation and interest-rate expectations globally.
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