About this episode
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.
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Today’s recommended read: Iran war triggers global race to build oil reserves, Ron Bousso
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Read more from Amanda Cooper and Anna Szymanski
Produced by Eliza Davis Beard and Abisoye Adelusi
Sound engineering and music by Sebastian and Josh Sommer
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