Reuters2
A 60-day ceasefire framework between the U.S. and Iran gives oil markets some relief, though traffic through the Strait of Hormuz remains at roughly a quarter of pre-war levels. As investors continue to measure the heat in the Middle East, over in the UK the resignation of Keir Starmer has been met with a cool reception. Many are waiting to see the details of transition. Meanwhile, the severity of El Niño is raising fresh concerns about food prices and inflation expectations.
