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business10h ago
Iran war hurting global economy as IMF meeting begins; oil falls on peace hopes – business live
- The IEA lowered its 2026 global oil demand forecast amid Iran-related supply disruptions.
- Oil demand is now forecast to fall by 80,000 bpd in 2026, a first since 2020.
- The report cites energy infrastructure damage and Hormuz restrictions as drivers of disruption.
- Markets remained hopeful about peace talks, helping support equities across Europe.
- BP signaled strong oil-trading results and improved margins for Q1 2026.
- IMF/World Bank spring meetings highlight potential long-term economic scars from war.
- European steel tariffs are expanding to curb imports amid global trade tensions.
- The UK faces potential impact from EU steel tariff changes as it aligns with EU policies.
- Asset markets show mixed reaction as oil prices dip below $100 on peace-talk hopes.
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