The Bank for International Settlements said in a report on June 28 that a "historic closure" of the Strait of Hormuz triggered an energy and broader commodity supply crisis, posing a fresh threat to the global outlook. While geopolitical tensions have eased and oil prices have fallen sharply, the BIS warned the shock's effects may persist. The report said early-year resilience was supported by AI-driven optimism and stronger-than-expected global trade, but cautioned that AI-related optimism may

The Bank for International Settlements said in a report on June 28 that a "historic closure" of the Strait of Hormuz triggered an energy and broader commodity supply crisis, posing a fresh threat to the global outlook. While geopolitical tensions have eased and oil prices have fallen sharply, the BIS warned the shock's effects may persist. The report said early-year resilience was supported by AI-driven optimism and stronger-than-expected global trade, but cautioned that AI-related optimism may not be durable. If supply bottlenecks continue to constrain production, the recent surge in capital expenditure may be difficult to sustain.