Oil dips below $110 in volatile markets as Trump deadline looms for Iran to reopen strait – business live

IMF head warns Middle East war will lead to higher inflation and slower global growth while IEA director says oil and gas crisis ‘more serious than the ones in 1973, ​1979 and 2022 together’Brent crude has now fallen 1.8% to $107.86 a barrel.“For now, the absence of a clear path forward is keeping markets volatile and indecisive,” said Daniela Hathorrn, senior market analyst at Capital.com.Markets are once again on edge as the US–Iran conflict enters a critical phase, with investors effectively trading against another countdown clock set by the Trump administration. The situation has evolved into a near-term binary outcome: either escalation through direct strikes on Iranian infrastructure, or a last-minute de-escalation that could trigger a sharp reversal in risk assets.Recent development