Oil Drops on Ceasefire Hopes, World Bank Warns of Major Inflation Risk

1. Oil prices are falling significantly ahead of US-Iran talks aimed at reaching a permanent ceasefire.
2. The World Bank President warns the Middle East war could raise global inflation by up to 300 basis points and slow economic growth.
3. Major Brazilian pulp producer Suzano states the conflict has significantly raised costs and could drive global price hikes for consumer goods like tissues.