Geopolitical events
On June 16, 2026, the United States and Iran reached a 60--day ceasefire agreement designed to halt the "West Asia War" and restore maritime traffic through the Strait of Hormuz. The memorandum of understanding, set to be signed in Geneva on June 19, has led to an immediate decline in global oil prices and a recalibration of inflation expectations. While the International Energy Agency (IEA) welcomed the move as critical for global energy security, Israeli Prime Minister Benjamin Netanyahu expressed formal reservations, warning that the easing of pressure on Tehran could compromise regional stability and the ongoing conflict with Hezbollah.