US President Donald Trump announced a 10-day ceasefire between Israel and Lebanon, effective 5 P.M. EST, citing direct conversations with Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu. The agreement follows weeks of Israeli military operations in Lebanon tied to the broader US-Israeli conflict with Iran, which spilled into Lebanese territory on March 2 when Hezbollah attacked Israel. Lebanese authorities report more than 2,100 deaths and over 1.2 million displaced since that date; Israel counts two civilian deaths and 13 soldiers killed in Lebanon. Trump framed the deal as a diplomatic breakthrough, noting that representatives of the two countries met in Washington for the first time in 34 years, facilitated by Secretary of State Marco Rubio. He directed Vice President JD Vance, Rubio, and Joint Chiefs Chairman Dan Caine to pursue a lasting settlement, and said he would invite both leaders to the White House for talks described as the first substantive bilateral engagement since 1983. The durability of the pause faces immediate stress tests. Israeli strikes continued in southern Lebanon through Thursday, including the destruction of the last bridge over the Litani River, effectively severing roughly a tenth of Lebanese territory. Lebanese authorities say they believe Israel sought a battlefield gain in the Hezbollah stronghold of Bint Jbeil before diplomatic progress could advance. Aoun's office stated that Israeli troop withdrawal from southern Lebanon remains a precondition for substantive negotiations.
Qatar's foreign ministry said mediators including Qatar, Pakistan, and Oman have reached "very progressive stages" in efforts to end the US-Iran war, pushing Brent crude down more than four percent.
Qatar confirmed it is mediating between the US and Iran but said no direct talks are currently planned. The clarification follows conflicting statements from President Trump, who claimed talks are under way, and Tehran, which denied any dialogue is happening.
Saudi Aramco reported sharply higher second-quarter 2026 profits as the Iran war restricts global oil supply and pushes crude prices up. Other oil supermajors also posted outsized earnings, raising concerns about sustained fuel cost pressure for importing economies.
President Trump called current Iran negotiations the "last chance" to end five months of conflict, pushing oil prices higher. Tehran denied formal talks are taking place, raising the risk of a diplomatic breakdown with direct consequences for global energy markets.