🔎 Weekly Focus – Budget Risks Replace War Fears, For Now 💰🕊️
The intensity of the conflict between Israel and Iran has diminished, and the ceasefire seems to be holding 🤝. This has eased market fears of Iran potentially disrupting global energy supplies by blocking traffic in the Strait of Hormuz ⛽🚢, and oil prices have dropped by about 15% since their peak last week 📉, returning to levels similar to those before the surprise airstrike carried out by Israel ✈️💥.
Overall, financial markets have reacted relatively calmly to the escalating conflict, and thus their response to the ceasefire has not been significant either 📊😌.
