Geopolitical deadlock supports oil prices, high energy costs drive eurozone rate hike expectations
智通财经2026/08/13 11:06- Negotiation talks between the US and Iran failed to achieve any substantial breakthrough. In the near term, merchant vessel attacks in shipping lanes have become frequent, with both sides making increasingly confrontational statements. The tense situation for shipping in the Strait of Hormuz is unlikely to ease soon; Brent crude oil fell 2% on the day to $87.30 per barrel, but is still up 45% from its pre-conflict price.
- Energy prices have remained elevated for a long period, pushing overall inflation in the eurozone significantly above the European Central Bank's 2% target. Market surveys show that institutions generally expect the European Central Bank to raise rates by 25 basis points next month, with market pricing reflecting about a 90% probability for this hike.
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