WASHINGTON, June 25 (Reuters) – The International Monetary Fund said on Thursday that it has seen energy and commodity prices fall since the U.S.-Iran agreement to halt hostilities and reopen the Strait of Hormuz, but it will take time for prices and Gulf trade flows to normalize.
IMF spokesperson Julie Kozack said that in the next update of its World Economic Outlook on July 8, the Fund will decide whether to continue with the three growth scenarios that it presented in April that depended on Iran war outcomes.
As the Strait of Hormuz remained closed in May, keeping benchmark oil prices above $100 per barrel, Kozack had said that the global economy was moving from the more benign “reference forecast,” which had assumed a quick end to the conflict, to an “adverse scenario” with 2.5% global growth for 2025.
(Reporting by David Lawder, Editing by Franklin Paul)
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