Exxon Mobil beats earnings expectations as increased output from Guyana and the Permian Basin offsets supply losses from the Middle East conflict.

UN Secretary-General Antonio Guterres warns that a prolonged closure of the Strait of Hormuz could trigger a global recession and push millions into extreme hunger due to fertilizer supply shortages.

UN Secretary-General Antonio Guterres warned that a prolonged closure of the Strait of Hormuz could push 32 million people into poverty and 45 million into extreme hunger due to fertilizer supply disruptions. Guterres stated that continued disruptions through the end of the year could drive inflation above 6% and trigger a global recession.

Two Federal Reserve officials dissented from this week's policy statement, stating that signaling future interest-rate cuts is no longer appropriate.

Two Federal Reserve officials dissented from this week's policy statement, arguing that signaling future interest-rate cuts is no longer appropriate.

Fed's Kashkari objects to policy statement, citing Iran war inflation risks.

Minneapolis Federal Reserve Bank President Neel Kashkari wrote that heightened inflation risks from the Iran war led him to object to the Fed policy statement.

Bank of England chief economist calls for more urgent interest rate hikes, citing slowing inflation progress amid the conflict in Iran.

The Bank of England's chief economist stated that the central bank should increase interest rates more urgently due to slowing progress in reducing inflation amid the ongoing conflict in Iran.