Brazil said it would scrap fuel subsidies if oil prices stabilized following the signing of the US-Iran deal, as countries worldwide scrambled to plot the fallout from the conflict’s apparent conclusion.

Crude prices tumbled further after Washington and Tehran finalized their interim deal, but analysts predict it could take months for global energy markets to normalize. Chile — which imports the vast majority of its fuel — cut its 2026 growth forecast and increased inflation expectations.

Elsewhere, France predicted its economy would remain sluggish, while Thailand said visitors from the Middle East had dropped by 25% in the first five months of 2026, hitting its critical tourism industry. “The world economy is going to end up being more jittery,” an expert said.