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The World Bank cut its outlook for global growth this year and said two-thirds of economies have seen prospects deteriorate as the Middle East war disrupts commodity flows and raises the cost of imports.
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Oil flows through the Strait of Hormuz have surged by about 50% this month, according to Vortexa Ltd., underscoring what’s at stake as the US and Iran vie for control of the critical waterway.
There are some new wrinkles, especially for those who sell things online or bought an EV.
Arabica coffee prices hit a record level, as traders digested the withdrawal of President Trump’s threats to impose tariffs and economic sanctions on Colombia.
Gold settled 1.4% lower, down two of the past three sessions, and silver fell 2.5%, down three of the past four sessions.
Luis de Guindos: Interview with Expansión
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Protesters call on FIFA to kick Iran out of World Cup, citing regime involvement Reuters
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DCC says it supports revised $7.6B buyout proposal from KKR-led consortium
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US military says none of its warships struck in Strait of Hormuz Reuters
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Copper and aluminium had been rallying before Middle East conflict hit supply