Video Duration 02 minutes 08 seconds play-arrow02:08Ships are moving again through the Strait of Hormuz, and oil prices are falling. But relief for consumers may take longer.
Shipping has picked up in the Strait of Hormuz since Iran and the United States signed an interim deal to end the US-Israel war on Iran.
But a lasting recovery depends on whether the two sides can reach a final pact. And economies around the world aren’t out of the woods just yet.
Mines still need to be cleared. Damaged energy infrastructure must be repaired. And the economic fallout of months of disruption is still working its way through the system.
Energy prices have eased, but food prices, electricity bills and inflation could take months to do so.
