- Global crude oil prices fell toward $75 per barrel following the official implementation of a landmark US-Iran interim agreement.
- Citigroup economists have canceled their forecast for two interest-rate hikes by the Reserve Bank of India through March 2027, citing reduced inflation risks from lower energy costs.
- Despite the drop in energy prices, India faces domestic economic challenges from a weak monsoon season that is disrupting construction and the cultivation of staples like rice and soybeans.
Quotes
“an interim US-Iran peace deal has reduced the risk of higher oil prices fueling inflation.”
“regional sentiment was initially weighed down”