Latest news with #ceasefire
Yahoo
27 minutes ago
- Business
- Yahoo
Oil price drops, shares jump as Trump announces Israel-Iran ceasefire
Stocks rallied on Tuesday after US President Trump said that a "complete and total ceasefire" between Iran and Israel would take effect in the coming hours. Iran's foreign minister denied that an official ceasefire agreement had been reached, but noted that Tehran would not continue its attacks as long as Israel halted its 'aggression'. At the time of writing, Israel had yet to comment. The truce, which Trump is labelling the end of the '12-day war', came after Iran attacked a US base in Qatar on Monday, retaliating against the US bombing of its nuclear sites over the weekend. In response to Tuesday's development, oil prices dropped as fears over a blockage to the Strait of Hormuz subsided. About 20% of global oil and gas flows through this narrow shipping lane in the Gulf. Brent crude, the international standard, dropped 3.83% to $68.74, while WTI dropped 3.85% to $65.87. Last week, Brent reached over $78 a barrel, a level not seen since the start of this year. Related Why the Strait of Hormuz remains critical for the global economy The dollar sees a rebound after US strikes Iran, but can it continue? European markets opened in the green. The DAX was 1.99% higher at 23,730.98, the CAC 40 was up 1.71% at 7,666.69, while the FTSE 100 rose 0.81% to 8,828.83 in morning trading. The STOXX 600 increased 1.48% to 542.93, while the EURO STOXX 50 rose 1.9% to 5,320.97. Looking to the US, S&P 500 futures rose 0.97% to 6,135.75 on Monday, while Dow Jones futures increased 0.89% to 43,284.00. Australia's S&P/ASX 200 jumped 0.89% to 8,550.10, South Korea's Kospi rose 2.75% to 3,097.28, and the Shanghai Composite index climbed 1.07% to 3,417.89. Hong Kong's Hang Seng rose 2% to 24,162.70 and the Nikkei 225 increased 1.16% to 38,796.39. The US Dollar Index slipped by 0.32% to 98.10. The euro gained 0.25% against the dollar while the yen dropped 0.48% in comparison to the greenback. Economists had suggested that persistent threats to oil would increase the value of the US dollar and hurt other currencies such as the euro, notably as the US economy is more energy independent. Greg Hirt, chief investment officer with Allianz Global Investors, told Euronews earlier this week that although the dollar may see a short lift on the Iran-Israel conflict, 'structural issues around a twin deficit and the Trump administration's volatile handling of tariffs should continue to weigh on an overvalued US dollar'. Error while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
an hour ago
- Business
- Yahoo
Oil price drops, shares jump as Trump announces Israel-Iran ceasefire
Stocks rallied on Tuesday after US President Trump said that a "complete and total ceasefire" between Iran and Israel would take effect in the coming hours. Iran's foreign minister denied that an official ceasefire agreement had been reached, but noted that Tehran would not continue its attacks as long as Israel halted its 'aggression'. At the time of writing, Israel had yet to comment. The truce, which Trump is labelling the end of the '12-day war', came after Iran attacked a US base in Qatar on Monday, retaliating against the US bombing of its nuclear sites over the weekend. In response to Tuesday's development, oil prices dropped as fears over a blockage to the Strait of Hormuz subsided. About 20% of global oil and gas flows through this narrow shipping lane in the Gulf. Brent crude, the international standard, dropped 3.83% to $68.74, while WTI dropped 3.85% to $65.87. Last week, Brent reached over $78 a barrel, a level not seen since the start of this year. Related Why the Strait of Hormuz remains critical for the global economy The dollar sees a rebound after US strikes Iran, but can it continue? European markets opened in the green. The DAX was 1.99% higher at 23,730.98, the CAC 40 was up 1.71% at 7,666.69, while the FTSE 100 rose 0.81% to 8,828.83 in morning trading. The STOXX 600 increased 1.48% to 542.93, while the EURO STOXX 50 rose 1.9% to 5,320.97. Looking to the US, S&P 500 futures rose 0.97% to 6,135.75 on Monday, while Dow Jones futures increased 0.89% to 43,284.00. Australia's S&P/ASX 200 jumped 0.89% to 8,550.10, South Korea's Kospi rose 2.75% to 3,097.28, and the Shanghai Composite index climbed 1.07% to 3,417.89. Hong Kong's Hang Seng rose 2% to 24,162.70 and the Nikkei 225 increased 1.16% to 38,796.39. The US Dollar Index slipped by 0.32% to 98.10. The euro gained 0.25% against the dollar while the yen dropped 0.48% in comparison to the greenback. Economists had suggested that persistent threats to oil would increase the value of the US dollar and hurt other currencies such as the euro, notably as the US economy is more energy independent. Greg Hirt, chief investment officer with Allianz Global Investors, told Euronews earlier this week that although the dollar may see a short lift on the Iran-Israel conflict, 'structural issues around a twin deficit and the Trump administration's volatile handling of tariffs should continue to weigh on an overvalued US dollar'.
Al Jazeera
an hour ago
- Politics
- Al Jazeera
LIVE: Outrage over report Israeli troops ordered to shoot Gaza aid seekers
US President Donald Trump said a ceasefire in Gaza could be reached 'within the next week' as Israeli attacks continue, with more than 60 people killed across the territory on Friday. Gaza's Government Media Office says revelations in the Israeli media that soldiers were ordered to 'deliberately shoot' starving Palestinians seeking aid supplies are further evidence of 'war crimes' in Gaza.
Yahoo
2 hours ago
- Politics
- Yahoo
UN working for ceasefire in besieged Sudan city
UN Secretary-General Antonio Guterres said Friday he has been in contact with the warring sides in Sudan to try to reach a ceasefire in the besieged and starving city of El-Fasher. Sudan's army chief Abdel Fattah al-Burhan has agreed in principle to such a humanitarian pause, his ruling Transitional Council said. But the opposing paramilitary side, led by al-Burhan's erstwhile deputy Mohamed Hamdan Daglo, said it had received no truce proposal. Since April 2023, the army has been at war with Daglo's Rapid Support Forces, killing tens of thousands and tearing Africa's third-largest country in two. In the latest violence, paramilitary shelling of El-Fasher on Friday killed 13 people including three children, a medical source told AFP. Another 21 were injured. In a telephone conversation with al-Burhan, Guterres called for a weeklong ceasefire in El-Fasher to allow humanitarian aid to be delivered to civilians, UN spokesman Stephane Dujarric said. The city has been besieged by the RSF for more than a year. "We are making contacts with both sides with that objective," Guterres told reporters. "We have a dramatic situation in El- Fasher," he said. "The people are starving in an extremely difficult situation, so we need to have an amount of time of truce for aid to be distributed, and you need to have it agreed with some days in advance to prepare a massive delivery in the El-Fasher." "I have a positive answer from General Burhan, and I am hopeful that both sides will understand how vital it is to avoid the catastrophe that we are witnessing in El-Fasher," he said. In a statement, the council that al-Burhan oversees said he had agreed to the truce proposal. But an RSF source told AFP Friday the paramilitary group had not received a ceasefire proposal. The RSF conquered nearly all of the vast western region of Darfur in the early months of the war, but has been unable to seize North Darfur state capital El-Fasher despite besieging the city for over a year. The UN has repeatedly warned of civilians trapped in the city with nearly no aid allowed in, and families forced to survive by eating leaves and peanut shells. At a Security Council meeting on Sudan on Friday, UN Assistant Secretary-General for Africa Martha Pobee suggested humanitarian pauses might be applied to other places in Sudan. "We are pursuing a predictable and time-bound humanitarian pause to facilitate safe humanitarian movements into and out of areas affected by ongoing fighting, beginning with El-Fasher, and allow civilians to leave voluntarily and securely," she said. Civilians report soaring prices and nearly all health facilities forced to shut due to fighting. A World Food Programme facility inside El-Fasher was damaged by repeated RSF shelling last month, and in early June five aid workers were killed in an attack on a UN convoy seeking to supply the city. The paramilitary has repeatedly attacked the city and its surrounding famine-hit displacement camps, killing hundreds of civilians and driving out hundreds of thousands of already displaced people. bur-abd/dw/acb
Arab News
2 hours ago
- Politics
- Arab News
Sudan's military accepts UN proposal of a weeklong ceasefire in El Fasher for aid distribution
CAIRO: Sudan's military agreed to a proposal from the United Nations for a weeklong ceasefire in El Fasher to facilitate UN aid efforts to the area, the army said Friday. UN Secretary-General António Guterres called Sudanese military leader Gen. Abdel-Fattah Burhan and asked him for the humanitarian truce in El Fasher, the capital of North Darfur province, to allow aid delivery. Burhan agreed to the proposal and stressed the importance of implementing relevant UN Security Council resolutions, but it's unknown whether the paramilitary Rapid Support Forces would agree and comply with the ceasefire. 'We are making contacts with both sides with that objective, and that was the fundamental reason for that phone contact. We have a dramatic situation in El Fasher,' Guterres told reporters on Friday. No further details were revealed about the specifics of the ceasefire, including when it could go into effect. Sudan plunged into war in April 2023 when simmering tensions between the Sudanese army and the rival RSF escalated into battles in the capital, Khartoum, and spread across the country, killing more than 20,000 people. The war has also driven more than 14 million people from their homes and pushed parts of the country into famine. UNICEF said earlier this year that an estimated 61,800 children have been internally displaced since the war began. Guterres said on Friday that a humanitarian truce is needed for effective aid distribution, and it must be agreed upon several days in advance to prepare for a large-scale delivery in the El Fasher area, which has seen repeated waves of violence recently. El-Fasher, more than 800 kilometers southwest of Khartoum, is under the control of the military. The RSF has been trying to capture El Fasher for a year to solidify its control over the entire Darfur region. The paramilitary's attempts included launching repeated attacks on the city and two major famine-stricken displacement camps on its outskirts.
