The International Monetary Fund warns that global shipping routes & supply chains need significant time to recover, even after the Strait of Hormuz reopens. Oil prices remain around ten percent above pre-war levels, & commodity markets including natural gas, jet fuel, & fertilisers are still normalising. The IMF publishes its updated World Economic Outlook on eight July twenty twenty-six, with the recovery outlook hinging on the durability of the current US-Iran ceasefire agreement.