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ECB chief economist LANE said oil prices could remain above pre-war levels as energy firms and governments rebuild inventories, which would sustain upward pressure on inflation. He noted Brent crude briefly fell to pre-war levels last week, but demand for restocking may keep prices elevated. LANE added that while the ECB welcomes lower oil prices, oil may stay above pre-war levels for several years, imposing persistent cost-push pressure on the economy.

President Trump told reporters at the White House on June 29 that the US and Iran would hold talks in Doha, Qatar on June 30, saying US representatives may have already departed or are preparing to leave. He described the meeting as potentially important or not, added the US has "already won militarily," said oil prices "have fallen," and asserted Iran had agreed not to possess nuclear weapons. US media reported that after weekend exchanges both sides agreed to pause military action and to meet in Doha to seek resolution of disputes over the Strait of Hormuz. The White House said the US delegation includes a presidential envoy, Witkof, and Trump’s son-in-law Jared Kushner. Iranian foreign ministry spokesman BAGHAEI said on June 29 Iran will not hold negotiations with the US at any level in the coming days, and that Tehran will send an expert delegation to Doha this week to follow up, while US representatives’ trip to Doha is unrelated to Iran’s expert visit.