"Oil prices fell nearly 6% with Brent crude down to $98.30 and West Texas Intermediate at $87.72, reflecting market reactions to geopolitical developments."
"Asian markets responded positively, with Tokyo's Nikkei 225 rising 2.8% and South Korea's Kospi gaining 3.1%, fueled by optimism from a US peace plan to Iran."
"The World Trade Organisation's deputy director general warned that disruptions in fertiliser supplies due to the conflict could lead to food scarcity and rising prices."
"A third of the world's fertilisers transit the strait of Hormuz, and while there is no current shortage, prolonged conflict will impact both quantity and prices."
Oil prices fell nearly 6% with Brent crude at $98.30 and West Texas Intermediate at $87.72. Asian shares gained, with Tokyo's Nikkei 225 up 2.8% and South Korea's Kospi up 3.1%. The market optimism followed reports of a 15-point peace plan sent by the US to Iran. The World Trade Organisation warned of potential food scarcity and high prices due to disruptions in fertiliser supplies from the strait of Hormuz, which has been affected by the ongoing conflict.
Read at www.theguardian.com
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