Overview
- The deal, announced Tuesday evening before a US deadline, commits both sides to a two-week halt and includes Iran’s pledge to reopen the Strait of Hormuz, a choke point for about one-fifth of global oil and LNG.
- Oil prices fell sharply and stocks rallied worldwide, with Brent sliding into the low $90s and Germany’s DAX opening about five percent higher.
- Pakistan will host US and Iranian delegations in Islamabad on Friday, with a reported ten-point Iranian proposal serving as the starting text though full details remain unpublished.
- Germany warned pump prices will not fall fast because damaged facilities and backlogged routes mean it could take weeks to restore flows, and major carriers like Maersk remain wary of resuming normal transits.
- The truce remains fragile, with Israel saying it does not cover Lebanon and Gulf governments reporting fresh Iranian attacks after the announcement.