Global energy markets remain volatile

Brent crude climbed back toward $97 a barrel as traders reacted to reports that shipping traffic through the world's most important oil chokepoint remains at a near standstill.

The OECD has warned that the conflict's long-term impact on global inflation will depend heavily on the scale of destruction at Iranian and Gulf energy facilities.

European nations are particularly vulnerable, with natural gas prices remaining elevated despite the pause in active bombing campaigns.

Major shipping firms continue to avoid the region, citing the risk of sea mines and the lack of verified safe passage guarantees.