Brent crude on Friday settled at its lowest level since the early days of the U.S.-Iran conflict. after Pakistan said a peace deal between the nations had been reached.
The European Central Bank, in hiking interest rates on Thursday for the first time since 2023, is making a choice the Federal Reserve is not: to increase rates into a supply shock.
The World Bank says that the war is slashing global growth prospects and that a prolonged conflict could tip dozens of developing nations into years of stagnation.
