Oil prices declined sharply Thursday following a US-Iran agreement to de-escalate conflict and restore shipping through the Strait of Hormuz. The deal eased concerns about supply disruptions, contributing to the price drop. Simultaneously, equity markets experienced volatility after the Federal Reserve signaled potential interest rate increases this year, strengthening the dollar. The Fed’s revised inflation forecast and commitment to “price stability” surprised investors, triggering a downturn on Wall Street and impacting European markets. Despite the fall in oil prices, policymakers remain cautious about immediate inflationary relief. Asian markets showed mixed results, with Seoul leading gains while London’s FTSE 100 experienced a decline. The European Central Bank’s recent rate hike further complicates the global economic outlook.