A new Citi Research report from a team led by Global Chief Economist Nathan Sheets assesses the uncertainties around the Middle East conflict, with a trim to expectations for 2026 global growth. But alongside this narrative about “heightened uncertainties” is another, more hopeful one to consider: “increased economic resilience.” With challenges in the Middle East ongoing, the global economy faces amplified uncertainties. In the near term, the key question is how long the Strait of Hormuz will remain closed. Roughly 10 million barrels per day of oil are currently offline; should that disruption persist, it would ... (full story)