โดนัลด์ ทรัมป์ · Bangkok Post
Still a long way to go
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During the past week, global attention focused on the ceasefire agreement between the US and Iran, bringing months of protracted conflict to a halt.
Key facts
- Oil prices, which surged above US$100 per barrel and briefly approached $120 during the war and closure of the vital shipping lane in the Strait of Hormuz, have since retreated to less than $80 following signs of progress towards a peace
- During the past week, global attention focused on the ceasefire agreement between the US and Iran, bringing months of protracted conflict to a halt.
- While crude oil prices fell sharply in response to signs of progress towards peace, most businesses remain cautious, preferring to reassess the outlook once tangible results emerge and all trade restrictions have been fully removed.
- The downtrend could continue in the coming months, settling in a range of $75-80 per barrel in the third quarter as global oil supply increases and concerns over supply disruptions ease, said Mr Amonthep.
- Earlier concerns that inflation could climb to between 3% and 5% were largely driven by supply-side shocks and elevated energy prices
Summary
While crude oil prices fell sharply in response to signs of progress towards peace, most businesses remain cautious, preferring to reassess the outlook once tangible results emerge and all trade restrictions have been fully removed.
The fragile Thai economy remains a concern, particularly when structural challenges have not been properly resolved, leaving low-income earners struggling with the surging cost of living.