Jul 13, 2026
According to ING, the recent decline in crude prices has given the eurozone some breathing room. The US-Iran Memorandum of Understanding reopened the Strait of Hormuz for energy shipments, alleviating earlier price spikes. Yet renewed frictions have exposed how precarious the calm remains. No definitive accord has been reached between the two nations, talks are shrouded in doubt, and fresh confrontations could erupt at virtually any moment.
Growth Outlook and Business Mood
Second-quarter economic expansion was probably tepid, hampered by geopolitical strains and climbing expenses linked to warfare. Certain sectors may have gained an edge because Asian rivals suffered greater harm from disruptions in Persian Gulf commerce. Sentiment gauges began to improve tentatively before the MoU, and growth might accelerate during the latter…
