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Iran has agreed to open the Strait of Hormuz for a two-week US ceasefire, a development that could potentially ease tensions in the region. The agreement comes as a significant breakthrough in diplomatic efforts to reduce hostilities.The Strait of Hormuz is a critical waterway for global oil shipments, and any disruption to its operations can have far-reaching impacts on the world economy. By agreeing to keep the strait open, Iran is taking a crucial step towards de-escalation.This move is seen as a positive step towards peace and stability in the region, and it will be closely watched by international observers in the coming weeks.

Iran and the United States have agreed to a two-week ceasefire, with talks set to begin in Islamabad, Pakistan, on Friday. The ceasefire comes after US President Donald Trump said he was calling off a threat to bomb Iran's power plants and bridges and suspending attacks on the country for two weeks.The truce is contingent on Iran agreeing to the 'complete, immediate and safe opening' of the Strait of Hormuz, a critical waterway through which a fifth of global oil supply passes. Iran's partial blockade of the strait has disrupted global trade, driving up oil prices and causing fuel shortages worldwide.Iran's National Security Council has confirmed that Tehran has agreed to talks based on a 10-point proposal from Iran. The proposal calls for Iranian dominance and oversight of the Strait of Hormuz, the withdrawal of all 'US combat forces' from bases in the Middle East, and a halt to military operations against allied armed groups across the region.The proposal also demands 'full compensation' for war damages, the lifting of all sanctions by the US, the United Nations Security Council, and the International Atomic Energy Agency, and the release of frozen Iranian assets abroad.Pakistan's Prime Minister Shehbaz Sharif said the warring sides had agreed to an 'immediate ceasefire everywhere', including Lebanon and elsewhere. He extended an invitation to US and Iranian delegations to Islamabad on Friday to further negotiate a conclusive agreement.

U.S. crude futures tumbled about 16.5% to $94 a barrel after President Donald Trump declared a two‑week ceasefire with Iran. The announcement sparked a broad market rally: S&P; 500 futures jumped over 2%, the dollar weakened across the board, and 10‑year U.S. Treasury futures rose roughly 15 ticks. Investors welcomed the prospect of resuming oil and gas flows through the strategic Strait of Hormuz, a chokepoint that carries roughly one‑fifth of global petroleum shipments. The ceasefire, which Trump said would halt U.S. attacks for two weeks, is being coordinated with the Iranian Armed Forces, and Tehran has pledged to cease its own strikes if the United States does the same. Since the U.S. and Israel launched attacks on Iran at the end of February, markets have been volatile. The conflict forced Iran to effectively close the Strait, contributing to the . The new de‑escalation offers a potential relief valve for inflation‑sensitive economies and could restore confidence in energy‑intensive sectors. "Markets have been predicting that Trump was looking for an off‑ramp in Iran," said Jamie Cox, managing partner at Harris Financial Group. "Today, he got one and took it." The sentiment was echoed by analysts who see the ceasefire as a "good start" that may pave the way for a more permanent reopening of the waterway, though many uncertainties remain. Asian equity futures also pointed higher, reflecting the global impact of lower oil prices on regional markets that have been battered by the war and soaring energy costs. Meanwhile, the dollar's retreat underscores its recent role as a safe‑haven currency during the turmoil. Trump added that the United States had received a "10‑point proposal" from Iran, which he described as a workable basis for negotiations toward a long‑term peace settlement. While the ceasefire is limited to two weeks, analysts such as IG's Tony Sycamore caution that "lots of ifs still to work out" before a durable resolution can be achieved.

The Guardian is calling on readers to share their personal stories of how they have been impacted by the ongoing conflict in the Middle East. With Iran and the US agreeing to a two-week conditional ceasefire, the situation remains volatile and uncertain.Whether you are living, working, or traveling in the region, or have been impacted in other ways, the Guardian wants to hear from you. Your experiences can help provide a deeper understanding of the human impact of the conflict.Please note that your security is the top priority. The Guardian recognizes it may not always be safe or appropriate to record or share your experiences, so please consider this when deciding whether to get in touch.To share your story, you can:Fill out the online form provided, which is encrypted and confidential.Message the Guardian on WhatsApp or Signal at +447766780300.The Guardian assures readers that all responses will be kept secure and anonymous if desired. The information collected will only be used for the purpose of this feature and will be deleted when no longer required.Key form fields include:NameLocationBackground information (optional)Country locatedPersonal experience with the conflictPhoto upload (optional)Publication consentContact details (optional)For more information, readers can visit the Guardian's tips guide or privacy policy.

Israel's conflict with Iran has ended in a strategic failure for Prime Minister Benjamin Netanyahu, with the war achieving none of its main goals and damaging Israel's global standing.Despite years of threats and diplomatic pressure, Israel's war with Iran has resulted in a fragile and vague ceasefire, with Iran's regime still intact and its military assets significant.The US intelligence community had deemed Israeli predictions of regime change and revolution in Iran as 'farcical', and Netanyahu's assessment that the war would be short-lived proved woefully wide of the mark.Netanyahu's insistence on continuing attacks in southern Lebanon appears hubristic, and Israel's actions have been criticized by opposition leaders, including Yair Lapid and Yair Golan, who have called the ceasefire a 'strategic failure'.The reality is that Netanyahu gambled everything on his war and failed to secure the fall of the Iranian regime, the seizure of Tehran's stockpile of highly enriched uranium, or meaningful state degradation.Instead, Israel's global standing has been damaged, and its role in pushing the US to war in Iran has been assailed by both progressives and the far right in America.The domestic fallout for Netanyahu in an election year in Israel will be significant, with many Israelis likely to question his ability to deliver on his promises of security and victory.

The Middle East conflict is having a profound impact on maritime workers, port staff, and shipping crews. The Strait of Hormuz, one of the world's busiest maritime routes, remains affected despite a temporary ceasefire between the US and Iran.Maritime traffic through the narrow channel linking the Persian Gulf with the Gulf of Oman continues to face delays, diversions, and heightened security risks as the situation evolves. Ports and shipping companies are operating amid uncertainty, while cruise ships carrying thousands of tourists have faced disruption across the region.The Guardian is inviting maritime workers, port staff, and shipping crews to share their experiences of how the conflict is affecting their work. The outlet is providing a confidential form and messaging channels for those who wish to contribute their stories anonymously.Key concerns for maritime workers include:Delays and diversions due to the conflictHeightened security risks for vessels and crewsImpact on livelihoods and work operationsThe Guardian's initiative aims to shed light on the human impact of the conflict on those working in the maritime industry.

The recent ceasefire between the US and Iran offers a glimmer of hope for the energy crisis that has been exacerbated by the conflict in the Strait of Hormuz. However, the deal's stability is already being questioned, with Iran claiming that Israel's attacks on Lebanon breach the agreement. Even if the ceasefire holds and hundreds of tankers stranded in the Gulf start to transit once more, analysts fear that it will not be enough to return the flow of oil, gas, chemicals, and other vital items to pre-crisis levels. An estimated 2,000 vessels with about 20,000 seafarers onboard have been trapped in the Gulf since the outbreak of the conflict. Shipping analysts and owners have cautioned that even a temporary ceasefire does not provide a sufficient guarantee that it is safe to make the passage, particularly because Iran's foreign minister has stated that transit will be under Iranian military management. Many questions remain for shipowners and their captains over whether it is safe to navigate through the strait. The disruption has been compounded by the forced shutdown of oil and gas production across the Gulf as storage facilities reached capacity. In addition, many key energy production sites have been damaged by drone attacks. Experts have said it could take months or years to fully restore the Gulf's energy production. Energy markets have fallen sharply on the hope that millions of barrels of crude oil and gas trapped in the Gulf could soon help to relieve a crisis that the International Energy Agency has said is more serious than the energy flashpoints in 1973, 1979, and 2022 combined. However, traders are also expected to price in a continuing 'geopolitical risk premium' to reflect uncertainty over whether the ceasefire will hold.

After Tehran announced a two‑week ceasefire in the Iran war, financial markets breathed a noticeable sigh of relief. Oil prices tumbled by more than 10% on Wednesday, stock indices rallied, and optimism about the global economic outlook resurfaced. However, the reprieve is far from complete.For six weeks the world’s economy has been under pressure as Iran effectively closed the Strait of Hormuz, a chokepoint that handles roughly one‑fifth of global oil and gas shipments. The closure sparked what analysts have called the worst energy crisis of the modern era, driving oil to historic highs.Any progress toward re‑opening Hormuz would ease fears of a supply crunch that could otherwise trigger a cascade of recession risks. Yet the situation remains volatile: Tehran and Washington continue to send mixed signals about the waterway’s status, and Israel’s ongoing strikes in Lebanon add further uncertainty.Consumers already feel the strain. Despite the recent price dip, Brent crude remains above $90 a barrel, a sharp contrast to the sub‑$73 levels recorded before the conflict began. While this is an improvement from the period when prices hovered above $100, it still represents a significant premium over pre‑war benchmarks.Most economists expect oil to stay above its pre‑war price throughout 2026. In its baseline forecast, consultancy Capital Economics projects Brent to settle around $80 per barrel by year‑end. Under that scenario, headline inflation in the United States and Europe would hover between 3% and 4% year‑on‑year, while GDP growth is likely to decelerate across major economies.The lingering uncertainty is amplified by the unpredictable stances of both Iran and the United States, as well as the broader geopolitical turbulence involving Israel. Prior to the conflict, few analysts believed Tehran would actually close Hormuz, a threat it has floated intermittently since the 1979 revolution.Given the strait’s pivotal role in the world economy, any prolonged disruption could add a costly premium to global business operations. The International Monetary Fund (IMF) warned in a recent report that wars since 1946 have left “economic scars” lasting more than a decade. The IMF cautioned that even after a ceasefire, persistent political and economic uncertainty can depress investment returns, fuel capital outflows, and constrain both investment and labor supply.In short, while the ceasefire has delivered a short‑term boost to markets, the underlying energy‑price pressures and geopolitical risks mean that the relief is far from absolute.

The fragile ceasefire between Iran and Israel faced a serious crisis on Wednesday as both sides presented conflicting accounts of the agreement. The development raised concerns about the potential collapse of the truce.Israel escalated its military operations in Lebanon, launching its heaviest attack yet on over 100 targets, resulting in at least 254 fatalities. This move directly contradicts the claims of Iran and Pakistan, who brokered the 11th-hour truce and asserted that the ceasefire included Lebanon.In response, Iran halted the passage of oil tankers through the Strait of Hormuz, citing an alleged Israeli breach of the ceasefire. The Fars news agency reported that oil prices had dropped sharply below $100 a barrel following the truce announcement, leading to a global stock market surge.The White House disputed Iran's claims about the closure of the Strait of Hormuz, calling the reports 'false' and stating that US President Donald Trump expected it to reopen 'immediately, quickly and safely.' The US signaled its continued adherence to the ceasefire, even as it threatened to unravel.Iran and the US have different interpretations of the agreement. Trump conveyed a version suggesting a 15-point proposal from the US, which included no enrichment of uranium and the destruction of Iran's highly enriched uranium stockpile. In contrast, Iran's 10-point plan, which Trump initially referred to as a 'workable basis for negotiation,' included the right to enrich uranium and the full lifting of sanctions.The US and Iran are set to engage in talks in Islamabad, Pakistan, this weekend, with a US negotiating team led by Vice-President JD Vance. The talks aim to cement the ceasefire into a more durable peace agreement, but significant gaps remain to be bridged.The situation in the Gulf remains fragile, with the US and Israel claiming to have destroyed Iran's industrial base and significant military assets. Iran, on the other hand, portrays the truce as a victory, with senior politician Ali Akbar Velayati stating that 'America was forced to accept a ceasefire.'