Economists say even if an Iran agreement is implemented, normalising shipping
through the Strait of Hormuz and gas prices returning to pre‑conflict levels
could take time. US inflation accelerated in May to the fastest pace in more
than three years, but the rise likely has peaked. Andrew Hollenhorst,
Citigroup’s chief US economist, cautioned that short‑term energy and oil market
forecasts are difficult but that the broader trajectory appears downward. News
of a provisional Iran‑US agreement pushed oil prices lower and lifted equities;
Stephen Stanley, chief US economist at Santander US Capital Markets, said
markets are treating the deal as done and largely reverting toward pre‑conflict
conditions.
