Israel and Lebanon agreed to implement a new ceasefire after U.S.-mediated talks, the Trump administration said, raising hopes for progress toward ending the wider U.S.-Israeli war with Iran.
The trickle of tankers exiting the Strait of Hormuz has gathered pace in recent weeks, as traders adopt stealth measures to make the crossing. While this is freeing some of the vast oil inventories trapped in the Gulf, it does not signal a slow return to normalcy. Instead, it previews the opaque, fragmented energy market the Iran war is set to leave in its wake.