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A U.S.-brokered 10-day ceasefire between Israel and Lebanon took effect on April 16-17, announced by President Donald Trump, who said he had invited both leaders to the White House and signalled a possible U.S.-Iran meeting over the weekend as Pakistan mediators press for wider talks.
The pause follows more than six weeks of fighting sparked by a U.S.-Israeli offensive against Iran and subsequent Hezbollah involvement; violations and intermittent shelling were reported after the truce began, underscoring its fragility.
Diplomats say nuclear issues between Washington and Tehran remain unresolved despite progress in Islamabad.
The wider conflict has effectively closed the Strait of Hormuz, sending oil and jet-fuel prices to record highs.
The International Energy Agency warned Europe could have only about six weeks of jet fuel supplies without resumed Gulf flows.
European carriers have already been hit: easyJet warned of a larger first-half loss, citing higher fuel costs and weaker summer bookings.
Global markets have rallied on hopes for a deal, but analysts and officials caution that any agreement is tentative and that economic and supply shocks could persist if hostilities resume.
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An IEA warning of only weeks of jet fuel if Hormuz stays closed has raised alarm about economic and aviation disruption, but aviation industry officials in at least one country say immediate shortages are unlikely, highlighting a split between agency-level worstâcase scenarios and industry confidence in market adjustments.







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