Oil slides below $100 and stocks jump after two-week Iran war ceasefire agreed
Financial markets experienced a monumental shift as crude valuations tumbled and equity indices surged worldwid...
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 8 April, covering the latest developments you need to know.
Iran, the United States and their allies have agreed to an immediate ceasefire, mediated by Pakistan, aimed at halting weeks of escalating conflict in the Middle East. The deal includes a temporary reopening of the Strait of Hormuz and a pause in military operations. However, Israel says the arrangement does not extend to Lebanon, signalling that regional tensions may persist despite the agreement. Further negotiations are expected in Islamabad on 10 April.
U.S. President Donald Trump approved the two-week ceasefire shortly before his deadline for Iran to reopen the Strait of Hormuz. Washington has presented the deal as a military and diplomatic success, stating that its objectives were achieved faster than planned. Iran, meanwhile, says it will halt operations only if attacks against it fully stop. The agreement remains fragile and conditional.
Despite the ceasefire and expected reopening of Hormuz, global aviation faces continued pressure. The Head of the International Air Transport Association, (IATA), Willie Walsh, warns that jet fuel supply could take months to stabilise, due to damage and disruption to Middle Eastern refining capacity. Airlines are already adjusting routes, increasing fuel loads and managing higher operational costs.
The Strait of Hormuz continues to be the central leverage point in the crisis. Roughly 20% of global oil supply passes through the narrow waterway, making it one of the world’s most strategically sensitive routes. Even with a ceasefire in place, shipping risks, insurance costs and market volatility are expected to remain elevated in the short term.
U.S. Vice President JD Vance has openly backed Hungarian Prime Minister Viktor Orbán ahead of a closely contested election. Speaking in Budapest, Vance accused the European Union of interfering in Hungary’s domestic politics, a claim rejected by EU officials. The visit marks a significant shift in U.S. policy, with Washington taking a more direct role in supporting political allies abroad.
The crew of Artemis II mission are entering a pivotal phase of their journey, as they prepare to swing around the Moon and head back towards Earth. Now on the fifth day of their 10-day mission, the four astronauts are already witnessing views no human has ever seen.
U.S. President Donald Trump on Monday told reporters that Iran could be taken out in one night, "and that night might be tomorrow night," warning Tehran it had to make a deal by Tuesday night or face wider bombing raids.
A new proposal to end hostilities between the United States and Iran could come into effect as soon as Monday, potentially reopening the vital Strait of Hormuz, a source familiar with the plan said on Monday.
U.S. President Donald Trump threatened Iran's "whole civilisation" on Tuesday in a post on social media. Meanwhile, the UN failed to reach an agreemement on a resolution aimed at reopening the Strait of Hormuz, after China and Russia used their vetoes.
As Hungary approaches a crucial vote, younger citizens who grew up under Prime Minister Viktor Orbán are increasingly backing the opposition, with some saying they may leave if he secures another term.
U.S. Vice President JD Vance lashed out on Tuesday at what he called "disgraceful" European Union interference in Hungary's election, even as he openly endorsed Prime Minister Viktor Orbán, a close ally of both President Donald Trump and Russian President Vladimir Putin, days before the vote.
Construction has begun on a major new solar power project in Xizang, as China continues to expand its renewable energy capacity and push towards a greener future.
U.S. Vice-President J.D. Vance began a visit to Budapest on Tuesday by praising Prime Minister Viktor Orbán, who faces a closely contested parliamentary election on Sunday.
A gunfight with police outside the Israeli consulate in Istanbul’s Beşiktaş district left at least one attacker dead and two others injured, according to Turkish authorities, prompting a major police response on Tuesday (7 April).
A train driver has died and several passengers have been injured after a high-speed train collided with an army lorry carrying military equipment at a level crossing in northern France on Tuesday morning (7 April), the local prefecture and railway operators said in separate statements.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment