Iran-US ceasefire holds as food prices surge and oil fears grow.

A fragile ceasefire between Iran and the United States appears to be holding despite continued tensions and sporadic incidents in the Strait of Hormuz — one of the world’s most critical oil shipping routes.

But while diplomacy continues behind the scenes, the economic impact of the conflict is already being felt worldwide.

Global food prices have climbed to their highest levels in more than three years, according to the United Nations, driven by rising fuel costs, fertilizer shortages, and growing supply chain disruptions linked to instability in the Middle East.

At the same time, environmental concerns are mounting after satellite images appeared to show an oil slick spreading near Iran’s Kharg Island — the country’s main petroleum export hub.

Iranian officials say they are reviewing a new US proposal aimed at ending the conflict, while analysts warn that prolonged instability could deepen global inflation and intensify pressure on vulnerable economies, especially across Africa.

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