Strategic petroleum releases helped avert a sharper rise in oil prices as a result of the war in the Middle East, but the global economy faces significant downside risks if a fragile ceasefire between the US and Iran doesn't hold, IMF chief economist Pierre-Olivier Gourinchas said on Friday.

The IMF notes a decline in energy and commodity prices following a ceasefire in the Strait of Hormuz, though full normalization will take time. While inflationary expectations…

Strategic petroleum releases helped avert a sharper rise in oil prices as a result of the war in the Middle East, but the global economy faces significant downside risks if a…

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