Jamie Rush of Bloomberg believes central bankers should prepare for a prolonged conflict with Iran, which could remove 20% of the world's oil from global markets.

Jamie Rush of Bloomberg Economics believes central bankers should prepare for a prolonged conflict in the Strait of Hormuz that could remove 20% of global oil from the market.

Iran's negotiating leverage increases as the U.S. midterm elections approach, reducing the incentive for them to reach a deal.

The Bloomberg U.S. economics team believes there are reasons to think U.S. inflation may be declining on a sustained basis, which would support interest rate cuts.

Central banks are moving toward hiking interest rates or canceling planned rate cuts to signal their credibility in fighting inflation.

The European energy sector has become more resilient and less reliant on oil and gas since the price shock of 2021.

A prolonged conflict in the Middle East could remove 20% of the global oil supply from the market, a scenario central bankers should be preparing for.