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Oil and gas markets rallied on Thursday as investors grappled with the shaky outlook for the two‑week Iran‑Israel ceasefire. Brent crude rose more than 2% to $96.77 a barrel, while New York light crude climbed nearly 3% to $97.23, still shy of the $100 threshold that many traders watch. The previous session had seen Brent plunge 13.29% to a four‑week low of $94.75. In the gas sector, the UK month‑ahead contract rebounded 1% to 115.35p per therm after a 15% drop the day before. European natural‑gas futures also recovered, edging toward €46/MWh from a five‑week trough of €45.30. The price uptick reflects growing scepticism about the durability of the ceasefire announced a day earlier by the United States and Iran, which included a pledge to reopen the Strait of Hormuz. UAE and Kuwait reported intercepting Iranian drones, and Iran’s parliamentary speaker accused the United States and Israel of breaching several agreement points. Iran’s Revolutionary Guards warned of a “regret‑inducing response” if Israeli strikes on Lebanon continue. The latest Israeli barrage killed at least 254 people and wounded 837, prompting the Fars news agency to note that oil‑tanker traffic through the strait had been halted. Former President Donald Trump used his Truth Social platform to threaten that U.S. forces would remain in the region until a “real agreement” is fully honoured, warning that any non‑compliance would trigger “stronger than anyone has ever seen before” military action. Asian equity markets reacted negatively: Japan’s Nikkei slipped 0.7%, South Korea’s Kospi fell 1.7%, and Hong Kong’s Hang Seng edged down 0.4%. In Europe, the FTSE 100 dipped 0.1%, Germany’s DAX fell 0.6%, France’s CAC 40 dropped 0.3%, and Italy’s FTSE MIB slipped 0.2%. The pan‑European Stoxx 600 trimmed 0.1% after a near‑4% rally the day before, while U.S. futures pointed to a lower opening on Wall Street. Deutsche Bank strategist Jim Reid noted that market stress has eased compared with 24 hours earlier, as the ceasefire news generated renewed optimism and reduced fears of a stagflationary shock. On the diplomatic front, White House press secretary Karoline Leavitt announced that Vice‑President JD Vance will lead a delegation to Islamabad, with initial talks slated for Saturday morning. Jefferies chief European economist Mohit Kumar argued that, despite its fragility, the truce is likely to hold because of the “mutually assured destruction” calculus. He added that both sides now see a ceasefire as the lesser‑evil, given the escalating costs of continued conflict and the strategic challenges of securing cheap drone interceptors and a reliable Hormuz passage.

Pakistan's diplomatic efforts culminated in a two-week ceasefire between the US and Iran, agreed upon just hours before US President Donald Trump's deadline to destroy Iran's 'civilisation'. The ceasefire was announced by Trump on his social media platform, Truth Social, and confirmed by Iranian Foreign Minister Abbas Araghchi.The breakthrough was facilitated by Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, who engaged in extensive diplomacy with both sides. Sharif publicly announced the ceasefire, inviting both delegations to Islamabad for further negotiations. The talks are expected to begin on Friday, potentially involving a US delegation led by Vice President JD Vance.The conflict, which began on February 28, had killed over 2,000 people in Iran and disrupted roughly a fifth of the world's oil supplies. Pakistan's role as a mediator was seen as a significant diplomatic achievement, with both Washington and Tehran acknowledging its efforts.The ceasefire is not a peace deal, and key differences remain unresolved, including Iran's uranium enrichment and the Strait of Hormuz. However, analysts view Pakistan's role as a major shift in its diplomatic efforts, positioning itself at the centre of a significant diplomatic initiative.

Al Jazeera journalist Mohammed Wishah lost his life on Wednesday when an Israeli drone strike struck the car he was traveling in on al‑Rashid Street, a coastal road west of Gaza City.The air strike ignited the vehicle, causing it to burst into flames, according to sources cited by Al Jazeera.Since the onset of Israel’s war in Gaza in October 2023, the Israeli military has increasingly targeted media personnel. The Gaza Government Media Office reports that at least 262 journalists have been killed in Israeli attacks on the enclave.This latest fatality highlights the heightened risk faced by reporters covering the conflict and raises serious concerns about press freedom in a war zone where information is both a strategic asset and a perilous pursuit.Further updates will be provided as more information becomes available.

In the war-torn city of Taiz, Yemen, a 14-year-old boy named Ibrahim was killed by a sniper while walking to school with his younger siblings. The incident has sent shockwaves through the community, with locals blaming the Houthi rebels for the tragedy.Ibrahim's mother, Umm Ibrahim, expressed her grief, asking, 'Why did they kill my child, my source of strength?' She had already lost her husband nearly a decade ago and relied heavily on Ibrahim as they struggled to survive in the economically deprived city.The Houthi rebels have been besieging Taiz for 11 years, and the city lies on the front line of the war between the Houthis and the Yemeni government. A 2025 UN report found that 66% of sniper killings in Yemen took place in Taiz, with 21 deaths, including nine children.The killing has sparked an outpouring of anger in Taiz, with a mass turnout for Ibrahim's funeral and protest vigils organized by local schools. The government-run Education Office condemned the killing, calling it a 'cowardly terrorist' act.Najib al-Kamali, head of the Alef Observatory for the Protection of Education and Children's Rights, stated, 'Targeting a child going through their educational journey is an act that goes beyond a violation to the level of a symbolic assassination of hope within a society.'

In a shocking escalation of violence, civilians in Gaza's Maghazi camp were caught in the crossfire as rival armed groups clashed, leaving 10 people dead and 44 injured. The incident occurred on Monday, with eyewitnesses describing scenes of panic and chaos as armed men stormed homes and a school run by the United Nations Relief and Works Agency for Palestine Refugees (UNRWA).The violence began when armed groups approached from the direction of the "yellow line" that separates Palestinian and Israeli-controlled areas of Gaza. The groups, allegedly backed by Israeli forces, moved towards civilian homes and the Al-Maghazi Preparatory Boys School, which is sheltering large numbers of displaced people.Residents reported that the armed men, who identified themselves as the "Popular Forces combating terrorism", a rival group to Hamas, broke into homes, detained family members, and used the houses as cover during the battle. The family of Asaad Nteel, who was caught up in the violence, described being ordered to gather in one room and not move, fearing harm to themselves and their children.The clashes, which lasted for over an hour and a half, caused extreme distress to residents, who do not support these groups. Local people claim the armed men were provided with cover and support by Israeli forces, with some eyewitnesses reporting the use of armed drones to aid the armed men's withdrawal.The Palestinian Centre for Human Rights has documented previous violence by these groups, including looting of aid convoys, kidnappings, torture, and killings, with cover or support from the Israeli army. The centre has called for an urgent independent investigation, accountability for those responsible, and effective protection for civilians.The incident has sparked widespread outrage on social media, with activists sharing videos documenting victims being transported to hospitals. The violence has also raised concerns about the emerging armed groups in Gaza, which appear to operate near areas along the "yellow line".Since the ceasefire between Israel and Hamas supposedly began on October 11, 733 Palestinians have been killed in Gaza, and 2,034 injured, in addition to 759 bodies recovered. The situation remains dire, with civilians continuing to bear the brunt of the conflict.

Israeli forces launched a series of coordinated strikes across Lebanon on Wednesday, killing dozens and wounding hundreds, just hours after a ceasefire was announced in the US-Israeli war on Iran. The attacks, which targeted areas in Beirut, the Bekaa Valley, and southern Lebanon, were the largest coordinated strike by Israel since it began a new military operation in Lebanon on March 2. The Israeli military carried out a surprise strike on hundreds of Hezbollah terrorists at command centers across Lebanon, according to Israeli Defence Minister Israel Katz. The strikes targeted Hezbollah infrastructure, with over 100 Hezbollah command centers and military sites hit. Lebanon's Ministry of Public Health reported that dozens of people were killed and hundreds wounded in the attacks. The Lebanese Red Cross said 100 of its ambulances were responding to the attacks, with teams working to transport the injured to hospitals. Hospitals were overcrowded, and health officials warned of a dire situation. Israeli Prime Minister Benjamin Netanyahu had earlier stated that the US-Iran truce excluded Lebanon, a country Israel has invaded in a new campaign against the armed group Hezbollah. Lebanese Prime Minister Nawaf Salam condemned the attacks, saying Israel was killing 'defenceless civilians' and showing disregard for international law. The violence has resulted in over 1,530 people killed in Lebanon since March 2, including women and children, and over 1.2 million people displaced. The situation remains volatile, with Hezbollah warning of a response from Iran and its allies if Israel does not adhere to a ceasefire.

Israeli air raids have torn through densely populated commercial and residential districts in central Beirut without warning, striking the heart of the capital just hours after a ceasefire was announced in the United States-Israeli war with Iran.Lebanon’s Ministry of Public Health reported that dozens of people had been killed and hundreds wounded, stressing that the figures were preliminary and likely to rise as rescue workers sifted through the rubble.Israel had already claimed that the truce did not apply to its conflict with Hezbollah in Lebanon, despite mediator Pakistan saying the agreement extended to that front as well.The Israeli military described the bombardment as the largest coordinated strike of the current war, with more than 100 Hezbollah-linked targets hit within 10 minutes in Beirut, southern Lebanon and the eastern Bekaa Valley.Several of the strikes landed in busy commercial areas, sending residents fleeing in panic as sirens wailed and glass and debris carpeted the streets.Lebanon’s National News Agency said at least five neighbourhoods in Beirut’s central and coastal districts were hit.The Israeli military said it had targeted missile launchers, command centres and intelligence infrastructure, and accused Hezbollah of using civilians as human shields.Residents and local officials, however, insisted that the buildings struck were not military sites.While Israel has regularly bombed southern and eastern Lebanon, as well as Hezbollah strongholds in Beirut’s southern suburbs, it had rarely carried out attacks in central Beirut since the latest round of fighting with the group began on March 2.Israeli air strikes in Lebanon have killed more than 1,530 people so far, and have forced at least 1.2 million people to flee their homes.

During Donald Trump’s January 2025 inauguration, Giorgia Meloni was the only European leader invited, underscoring a brief period of close personal and diplomatic ties between Italy’s right‑wing government and the new U.S. administration. A month earlier she had been photographed sharing a private conversation with Trump at the Élysée Palace while President Emmanuel Macron celebrated the reopening of Notre‑Dame. From the outset of Trump’s second term, the Italian premier was hailed by the U.S. president as a “real live wire” and the European ally who could help “straighten out the world.” Meloni embraced the role, describing Trump as a “brilliant man” and promising to "make the West great again" together. That camaraderie has now eroded. In the wake of the US‑Israeli military action against Iran, Meloni told reporters during a Gulf‑region visit that "when we don’t agree, we must say it", explicitly rejecting the war. Her stance was reinforced a week earlier when Italy denied U.S. bombers permission to refuel at a southern base. Political analysts note that Meloni’s shift marks a decisive break from Trump’s agenda. Roberto D’Alimonte, a political‑science professor at Luiss University, warned that her earlier attempt to act as a bridge between Trump and European allies has become a “liability” she now seeks to repair. Public opinion reflects the change. Recent polls show a solid majority of Italians oppose the Iran war, and support for Trump in Italy has plunged from 35 % to just 19 %. The backlash also manifested in a recent referendum on judicial reform, where 61 % of voters aged 18‑34 rejected Meloni’s proposal—a defeat analysts link more to dissatisfaction with her foreign‑policy alignment than to the reform itself. Beyond politics, the conflict threatens Italy’s economy. As the EU’s second‑largest natural‑gas consumer—accounting for roughly 40 % of its energy mix—Italy is feeling the impact of soaring energy prices caused by the near‑total shutdown of traffic through the Strait of Hormuz. The Bank of Italy now projects only a 0.5 % growth rate for 2026‑27, down from earlier forecasts, while the national statistics office reported that Italy’s fiscal deficit has breached the EU’s 3 % ceiling, limiting fiscal flexibility ahead of next year’s elections. Despite these pressures, Meloni has not completely abandoned the United States. In March she declined Trump’s request to dispatch Italian warships to the Strait of Hormuz, aligning with other European nations, yet she stopped short of condemning the US‑led operation outright. Experts argue that Meloni’s approach is deliberately cautious. “She is pragmatic and politically skilled,” D’Alimonte said. “She will continue to balance criticism of Trump’s aggressive foreign policy with the need to preserve strategic ties, moving step‑by‑step toward a stronger European alignment without burning bridges.”

Washington, D.C. – President Donald Trump declared a two‑week ceasefire with Iran on Tuesday, just hours after threatening a massive attack on the country. The pause will allow Iran to reopen the strategic Strait of Hormuz while both sides negotiate a longer‑term settlement. Republican Senator Lindsey Graham, a noted Iran hawk, welcomed the diplomatic move but stressed extreme caution. He praised the “hard work” of negotiators but warned that any agreement must be scrutinized, noting that Iran’s 10‑point plan reportedly offers sanctions relief and permits Tehran to retain control of the strait. Graham also warned that Iran must not be rewarded for its earlier attacks on the strait, writing on X: “We must remember that the Strait of Hormuz was attacked by Iran after the start of the war, destroying freedom of navigation. Going forward, it is imperative Iran is not rewarded for this hostile act against the world.” Democratic senators, while relieved that U.S. forces would be out of immediate danger, seized the moment to demand accountability. Senator Ruben Gallego said, “Stopping war is good… we can criticize why we got into this war, the illegality of it and hold the Trump admin accountable. But right now I am relieved.” Other Democrats, including Senator Ed Markey and Congresswoman Alexandria Ocasio‑Cortez, warned that the ceasefire does not erase the fact that the conflict was launched without congressional authorization and that targeting civilian infrastructure may constitute war crimes. Ocasio‑Cortez wrote, “The President has threatened a genocide against the Iranian people… launched a massive war… without reason, rationale, nor Congressional authorization – which is as clear a violation of the Constitution as any.” Critics on the right, such as far‑right activist Laura Loomer and commentator Mark Levin, dismissed the truce as a temporary pause, predicting the war will resume. Loomer warned, “The negotiation is a negative for our country… I don’t know why people are acting like this is a win.” Levin added, “This enemy is still the enemy; they’re still surviving.” The conflict, which began on February 28 without a congressional war declaration, has already seen high‑profile strikes, including an attack that the article claims killed Iranian Supreme Leader Ayatollah Ali Khamenei and a devastating strike on a girls’ school in Minab that killed over 170 civilians, mostly children. Economically, the closure of the Strait of Hormuz earlier in the war sent oil and gas prices soaring, underscoring the strategic importance of the waterway. Senator Chris Murphy (D) warned that allowing Iran to control the strait would be a “history‑changing win” for Tehran. Across the aisle, lawmakers agree that the ceasefire is not a clean slate. Advocacy director Raed Jarrar of DAWN urged an immediate congressional investigation into the war’s origins, funding, and accountability for civilian casualties. As the two‑week pause unfolds, U.S. officials and legislators will closely monitor negotiations, with the broader debate over war powers, constitutional authority, and potential impeachment of President Trump remaining front and center in Washington.