USA-Iran ceasefire: hopes for de-escalation and energy price decline
President Christodoulides expressed hope that the reported two-week ceasefire agreement between the USA and Iran materializes and leads to de-escalation. This development has already had tangible effects on energy markets: European natural gas prices fell by up to 20 percent as expectations have increased for a reopening of the Strait of Hormuz and an easing of the international energy market situation.