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Energy Market Sensitivity
Projected stability index of global oil prices during the ceasefire
Primary Sources
US-Iran ceasefire deal: What are the terms, and what's next?
A two-week ceasefire between the United States and Iran has halted 40 days of US-Israeli attacks on Iran that had pushed the region to the brink of a wider war.The truce, brokered by Pakistan, follows fierce exchanges of air strikes, missile attacks and threats that saw unprecedented strikes on Gulf nations, disrupted global shipping routes and heightened fears of a prolonged confrontation.Recommended Stories list of 3 itemslist 1 of 3Netanyahu says US-Iran ceasefire ‘does not include Lebanon’list 2 of 3Iraqis celebrates US-Iran ceasefire as two-week halt in war beginslist 3 of 3Climate activist Greta Thunberg slams Trump’s threats against Iranend of list“Both parties have displayed remarkable wisdom and understanding and have remained constructively engaged in furthering the cause of peace and stability,” Pakistani Prime Minister Shehbaz Sharif posted on X, while announcing the cessation of hostilities.Iran has also confirmed it will allow the resumption of shipping across the Strait of Hormuz during the two-week period, easing a disruption which had sent global oil and gas prices soaring. Israel has also announced it will halt its attacks on its longtime foe.Nevertheless, many questions remain as Washington and Tehran remain poles apart on what they view as a comprehensive agreement, while Iran, the United Arab Emirates and Kuwait reported attacks just hours into the truce.Robert Geist Pinfold, a political analyst, said the new US-Iran ceasefire deal remains very uncertain in scope and implementation.“Overall, the issue with the ceasefire deal is everyone, as usual, is claiming victory, and there are still continued violations of the ceasefire,” he said.Pinfold, a lecturer in international security at King’s College London, noted key details have yet to be clarified, including whether the agreement extends to Lebanon. “Israel maintains it will not. Pakistan maintains that it will,” he added.Negotiations expected to begin in Islamabad on Friday will test whether this truce can be converted into a more durable arrangement.So, what do we know about this two-week ceasefire and what happens next?What has the US agreed to?Under the terms of the ceasefire, the United States has agreed to halt its military strikes on Iran for an initial two-week period, claiming all of Washington’s military objectives had been “met” and Iran had agreed to the “complete, immediate and safe opening” of the Strait of Hormuz.The strait is a key passageway for one-fifth of the world’...
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