Iran and Israel say they will pause strikes but warn of retaliation if ceasefire breached again

According to BBC Middle East, Israeli Defence Minister Yoav Gallant said after the cabinet decision that "air operations are suspended but the readiness posture is maintained." Iran's Revolutionary Guards spokesperson General Ramezan Sharif said the strikes had been paused but that "any new violation will be answered swiftly and proportionately." White House spokesperson Karoline Leavitt said the US State Department had kept communication between the two capitals running through Qatar and Oman overnight.

In its statement, the Qatari foreign ministry said a two-day quiet window had been opened between the parties to update the technical agreement text. EU High Representative Kaja Kallas called the current situation "fragile but vital" and said the EU Council would hold an emergency foreign ministers' meeting tomorrow. Dalia Dassa Kaye, an analyst at the Carnegie Endowment, told the BBC that recent developments suggest neither side is "ready for an all-out war," but that extending the pause requires a concrete neutral verification mechanism.

On the market side, Brent crude fell 1.5 per cent to 79.8 dollars at the Asian open; spot gold edged toward 2,540 dollars. According to Lloyd's List, Hormuz tanker premiums declined 4 per cent. US Senate Foreign Relations Committee Chair James Risch said "Senate hearings" were being planned to oversee the ceasefire; the market desk stressed that comments are not investment advice. Lebanese President Joseph Aoun called on Washington to provide guarantees so the silence on the Tehran-Tel Aviv line could be preserved around Beirut as well.