Oil price falls to three-month low and markets rally after US-Iran peace deal – business live
Rolling coverage of the latest economic and financial news Oil prices tumble amid hopes strait of Hormuz will soon reopen Speaking of the ECB, their
Rolling coverage of the latest economic and financial news Oil prices tumble amid hopes strait of Hormuz will soon reopen Speaking of the ECB, their president Christine Lagarde has been warning that inflation pressures are spreading in the euro area. In an intervew with broadcaster France Culture, Lagarde warned that high energy prices are starting to feed through to other parts of the economy, saying “Indirect effects of inflation, we have absolutely started to see that more or less everywhere in recent weeks.” Over the past month, the price of oil is down by more than a fifth, and the Brent crude price is now back at levels from early March.
This is good news for inflation, which should start tumbling monthly from June, and it could ease concerns about price pressures as we lead up
to some major central bank action this week. The decline in the oil price also raises questions about whether the ECB was too hasty in
raising rates last week. Continue reading...
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