More than two months after the US and Israel first began their war with Iran, the White House and the Iranian regime have agreed a framework deal to bring about a more long-term end to hostilities.
The Middle East crisis sent global oil prices soaring as the conflict effectively closed one of the world’s key water transport routes for oil, liquid natural gas and other essential commodities, limiting global supplies.
But experts warn a return to normal shipping through the Strait of Hormuz will take time, and the impact of the war will continue to affect the global economy for potentially months to come.
