A fragile ceasefire

Markets cheered a ceasefire between Iran and the U.S. Less than 48 hours later, doubts are creeping back in — with oil flows still limited, the Fed reassessing inflation risks, and airlines warning of higher costs for consumers.

Today’s recommended read: Refined fuel prices retreat in Asia, but still show supply stress, by Clyde Russell

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Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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