According to Makhlouf, why might energy price pressures persist even after a Middle East conflict deal?

Makhlouf stated that 'an end to the conflict does not necessarily mean an immediate end to the shock' because damage to energy infrastructure may cause production to recover only with a lag, delaying normalization of supply chains and energy prices; he also noted uncertainty around the reopening of the Strait of Hormuz, which Iran has effectively blocked since February.

What did the ECB signal about future monetary policy following its recent rate hike and the U.S.–Iran deal?

The ECB raised interest rates for the first time in nearly three years and left the door open to more tightening to prevent fuel-cost-driven inflation from spreading; Chief Economist Philip Lane affirmed the bank would remain 'proactive' against high inflation even if the deal lowered energy prices, and investors expect at least one more rate hike this year—likely in September or October—with the deposit rate currently at 2.25%.

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Price Pressures May Linger Due to Damaged Energy Assets, ECB's Makhlouf Says

Jun 16, 2026

ECB Governing Council member Gabriel Makhlouf warns that energy infrastructure damage could cause lingering price pressures despite an interim Middle East deal, leading to expectations of further rate hikes.

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