German insurer Allianz estimates that 1,150 ships remain stuck in the Persian Gulf despite a preliminary agreement to end the conflict between the United States and Iran. The total value of the stranded vessels is estimated to be approximately $125 billion.
Petrol prices rose by 22 cents in two weeks but are currently decreasing at a much slower rate than they increased. Economic reporter Saskia van Westhreenen explains the disparity between rapid price hikes following oil price increases and the slower relief felt by consumers when oil prices drop.
Ukraine has submitted a revised application to join the Organisation for Economic Co-operation and Development (OECD), as announced by President Volodymyr Zelensky. The organization currently consists of 38 developed economies, including the Netherlands, the United States, Germany, and Japan.