Key facts
- President Donald Trump cancelled further strikes on Iran, stating a deal is nearing finalization.
- Hezbollah MP Hassan Fadlallah said Lebanon will be included in any US-Iran peace deal.
- Iran confirmed a draft deal is under consideration but remains wary of US intentions.
- Oil prices fell as President Trump called off strikes on Iran.
- Critical mineral trade is surging due to energy demand and the US-Iran conflict.
President Donald Trump announced he has cancelled further strikes on Iran, stating that a deal with Tehran is close to being finalized and a "time and place of the signing" are "to be announced shortly." This comes after earlier threats to hit Iran "very hard" and take control of its oil infrastructure.
Hezbollah MP Hassan Fadlallah stated that Lebanon will be included in any peace deal between Iran and the US, regardless of the Lebanese government's acceptance. He criticized the government's direct negotiations with Israel, asserting that Hezbollah has no viable political option and must continue resistance.
Iran has confirmed that a draft deal is under consideration by its leaders, but expressed suspicion of US motives and concerns about Israeli involvement. Their priorities include security guarantees and sanctions relief. The potential deal is framed by Iran's leadership as a positive outcome of war sacrifices.
Oil prices fell following the cancellation of strikes, easing market fears. The UN Trade and Development agency (UNCTAD) reported that critical minerals like copper, nickel, and lithium are reshaping global trade due to rising demand for clean energy and electrification, with the US-Iran conflict contributing to energy security tensions.
Meanwhile, the Israeli military continued attacks in Lebanon, reporting strikes on Hezbollah targets and shooting down a drone. The International Rescue Committee warned that thousands displaced by Israeli attacks in Lebanon are at 'breaking point'. Separately, a $4 million peace fund for the Israel-Palestine conflict was launched by Australia, Canada, and the UK.