World: Monthly market update #2 – June 2026, Middle East, Northern Africa and Eastern Europe

Countries: World, Egypt, Iran (Islamic Republic of), Türkiye, Yemen Source: World Food Programme Please refer to the attached file. HIGHLIGHTS The temporary reopening of the Strait of Hormuz following a June US–Iran agreement eased global commodity and inflationary pressures, with Brent crude falling 20% in June (compared to May) reaching USD 73/bbl, and urea prices dropping 21% below pre-conflict levels. Cereals and natural gas prices also declined slightly (45%), although natural gas remained 37% above pre-confli