A 10-day ceasefire in Lebanon on Thursday is expected to halt fighting between Israel and the Hezbollah militant group, potentially bolstering efforts to extend the broader ceasefire involving Iran, the United States, and Israel after weeks of intense attacks.
U.S. President Donald Trump indicated that a White House meeting between Israel and Lebanon might occur within the next two weeks.
The conflict has resulted in significant casualties, with at least 3,000 fatalities in Iran, over 2,100 in Lebanon, 23 in Israel, and more than a dozen in Gulf Arab states. Additionally, thirteen U.S. service members have lost their lives.
Despite the U.S. blockade on Iranian ports and renewed Iranian threats creating tension, regional officials reported progress, informing The Associated Press that the United States and Iran had reached an “in-principle agreement” to extend the ceasefire, allowing for further diplomatic engagement. These officials spoke anonymously due to the sensitive nature of the negotiations.
According to a regional official involved in the mediation efforts, mediators are striving for a compromise on three critical issues: Iran’s nuclear program, the status of the Strait of Hormuz, and compensation for wartime damages.
Here are the latest updates for Friday:
Israel Experiences First 24 Hours Without Incoming Strikes Since Iran War Began
7 p.m. ET: For over 24 hours, no air raid sirens have sounded in any part of Israel. The last incident, very early Friday morning in a small community near the Lebanese border, was later determined to be a mistaken identification.
Since the Iran war commenced on February 28, barrages of missiles and rockets were launched into Israel, initially by Iran, then by Lebanon-based Hezbollah militants, and eventually by the Houthis in Yemen, sometimes occurring more than a dozen times daily. Hezbollah continued its firing until the ceasefire took effect on Friday.
Across Israel’s major metropolitan areas like Jerusalem and Tel Aviv, as well as in villages in the desert south and hilly north, sirens and alerts frequently sent residents scrambling to bomb shelters and safe rooms day and night.
Oil Prices Fall Sharply, Wall Street Rallies to Record High as Iran Reopens Strait of Hormuz
3 p.m. ET: Oil prices have retreated to levels seen in the early stages of the Iran war, while U.S. stock markets surged to new record highs.
The S&P 500 climbed 1.2% on Friday following Iran’s announcement that the Strait of Hormuz is once again open for commercial crude oil tankers.
The Dow Jones Industrial Average initially surged by as much as 1,100 points before moderating its gains, closing with an increase of approximately 870 points, or 1.8%. The Nasdaq composite also rose by 1.5%.
A more unrestricted flow of oil is expected to alleviate price pressures not only on gasoline but also on groceries and various other products. Oil prices saw a 9% decline.
Trump Posts Multiple Updates on Social Media
10:42 a.m. ET: President Trump shared several messages on Truth Social Friday morning, expressing gratitude to allies and providing updates on the reopening of the Strait of Hormuz.
Trump initially addressed the relationship between Israel, Lebanon, and Hezbollah, asserting that Israel is “PROHIBITED” from bombing Lebanon and that the U.S. would “deal with the Hezbollah situation in an appropriate manner,” subsequently adding, “WE WILL MAKE LEBANON GREAT AGAIN!”
Subsequent messages included thanks to Saudi Arabia, the UAE, and Qatar, alongside a directive for NATO to “stay away.”
Another post detailed U.S. efforts to assist Iran in removing sea mines in the region and declared the day a “GREAT AND BRILLIANT DAY FOR THE WORLD.”
Crude Oil Drops, Wall Street Rallies
10:29 a.m. ET: Following morning announcements from both Iran and President Trump confirming the opening of the Strait of Hormuz, markets and fuel prices are reacting significantly.
Crude oil prices have dropped by over 10%, and Wall Street is surging towards a record-breaking day.
The S&P 500 increased by 0.7%, while both the NASDAQ and Dow Jones saw a 1% rise.
Trump States Blockade Will Remain
9:33 a.m. ET: President Trump announced that the blockade on Iranian vessels at the Strait of Hormuz would remain in full effect.
Iran Declares Strait of Hormuz ‘Completely Open’
8:55 a.m. ET: The Iranian Foreign Minister declared the Strait of Hormuz ‘completely open’ via a social media post.
Seyed Abbas Araghchi stated that the strait’s reopening aligns with the remaining duration of the ceasefire in Lebanon.
President Trump Praises Israel-Lebanon Ceasefire as “Historic Day”
6:25 a.m. ET: Hours after the ceasefire announcement between Israel and Lebanon, President Trump took to social media, hailing it as a “historic day for Lebanon.”
In a subsequent message, he expressed hope that Hezbollah would behave “nicely and well” following the ceasefire between the two nations.
#StraitOfHormuz #Iran #Ceasefire #MiddleEast #OilPrices #DonaldTrump #IsraelLebanon #Diplomacy #Hezbollah #GlobalMarkets