Forecasters point to the possible development of a ‘Super El Niño,’ comparable to strong events in 1982, 1997 and 2015. But 1997 had delivered a normal monsoon, indicating a tenuous one-to-one correlation
FIEO President said while this should help normalise logistics in the short term, exporters will remain cautious given the temporary nature of the truce
Iran says it has agreed to two weeks of safe passage in coordination with its armed forces and within “technical limitations”, while Trump announced a “COMPLETE, IMMEDIATE, and SAFE OPENING”. It is also unclear if the two have settled on transit payments, or when the truce takes effect
Willie Walsh, director general of IATA, told reporters in Singapore that while he expected crude oil prices to fall, jet fuel costs were likely to remain slightly elevated due to the impact on refineries.
US Ambassador to India Sergio Gor discussed a commercial roadmap with Commerce Secretary Howard Lutnick, including a proposed AI partnership and increased Indian pharma investment in the US.