IMF says prices have eased since US-Iran agreement but Gulf trade remains disrupted

The IMF reported that energy and commodity prices have decreased since the US-Iran agreement to halt hostilities and reopen the Strait of Hormuz, though Gulf trade disruptions persist. The IMF will reassess its global growth scenarios in its 8 July World Economic Outlook update, having previously warned of an 'adverse scenario' in May when the Strait remained closed and oil prices exceeded $100 a barrel.