The impact on petrol and food prices, energy bills and mortgages if the truce holds and strait of Hormuz reopens
Around the world, markets reacted with relief this week to news that Donald Trump had signed a draft peace deal with Iran that promised to reopen flows of oil and gas from the Gulf to global buyers.
There are already signs the truce could unravel, with Friday’s peace talks in Switzerland abruptly called off, but for now markets seem persuaded that commercial vessel traffic through the key waterway can start returning to normal.
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