Keep pulling the thread on Iran Seek More Ceasefire Talks.
The International Monetary Fund forecasts that if crude oil prices remain around $100 per barrel for the rest of the year, global economic growth could slow to 2.5% and inflation could rise to 5.5%, the weakest growth since 2020.
West Texas Intermediate crude oil prices fell 6.3% to $92.83 per barrel.
Brent crude oil prices fell 4.1% to just above $95 per barrel.
JPMorgan Chase's trading division posted its highest-ever quarterly revenue in the first three months of the year.
Citigroup's trading division drove the bank to its highest quarterly revenue in a decade.
U.S. Central Command stated that 10,000 U.S. sailors, Marines, and airmen are involved in the naval blockade of the Strait of Hormuz.
According to U.S. Central Command, no ships passed through the Strait of Hormuz in the first 24 hours of the U.S. naval blockade, and six Iranian merchant vessels were turned back.
According to multiple media outlets, the U.S. has shifted its negotiating position from demanding a permanent ban on Iran's nuclear program to proposing a 20-year moratorium.
The annual cost of servicing the U.S. national debt has surpassed $1 trillion, exceeding the country's total defense spending.
Iran funds and controls proxy groups in the Middle East, including Hamas, the Houthis, and Hezbollah.
The European Commission has simulated that the war in Iran could reduce the EU's GDP by 0.2 to 0.6 percentage points and increase inflation by more than one percentage point.
The European Union is working with the International Energy Agency on a coordinated release of strategic oil reserves.