Good morning. The US-Iran ceasefire is the story. It’s fraying badly — Israel struck Lebanon over 100 times in ten minutes yesterday, killing at least 254 people, Hezbollah has retaliated, and Tehran is blocking oil tankers in the Strait of Hormuz pending agreement on transit terms. Trump has warned Iran to comply or the US starts “shooting” again, while simultaneously floating a joint US-Iran toll arrangement on Hormuz shipping — a position the White House then walked back. The gap between the two sides’ formal proposals (a US 15-point plan vs an Iranian 10-point counter) is described by the BBC’s diplomatic correspondent as substantial.
Yvette Cooper addressed City leaders at Mansion House yesterday calling for Lebanon to be included in any deal and for Hormuz to reopen toll-free. The latter is a direct rebuke to Tehran’s position, and also implicitly to Trump’s freelancing on the joint-venture idea. VP Vance has said Lebanon is not part of the current deal, putting Washington and London publicly at odds on scope.
The FT flags two structural consequences worth watching: fewer tankers passed through Hormuz during the ceasefire period than during active fighting, suggesting markets shouldn’t price in normalisation yet; and separately, the war is accelerating dollar-denominated oil trade alternatives, with Opec members using the disruption to push non-dollar settlement arrangements further along.
On energy more broadly, The Economist notes that ruined infrastructure and residual risk will keep prices elevated well beyond any formal ceasefire — relevant for UK input costs. BBC reporting corroborates this from the ground up, with UK farmers already warning of higher food costs flowing through from the conflict.
Iran-linked hackers have disrupted operations at US critical infrastructure sites as the conflict has escalated, per Ars Technica. Worth flagging for anyone with exposure to US operational technology sectors.
Watch today and tomorrow: Whether negotiators can close the gap between the two peace proposals before Trump’s patience runs out — and whether Israel’s Lebanon campaign forces a formal breakdown of the ceasefire framework entirely.
Sources
- Cooper urges full and toll-free reopening of Strait of Hormuz — BBC News
- Middle East crisis live: Trump warns Iran to comply with ‘real agreement’ as ceasefire in doubt over Israeli attacks on Lebanon — Guardian
- The Masters: Golf’s segregated past — Al Jazeera
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- Lebanon must be included in US-Iran ceasefire deal, Yvette Cooper to say — Guardian
- UK’s Mandelson tried to get Epstein’s ‘goddaughter’ into 10 Downing Street — Al Jazeera
- Iran war day 41: What’s happening in Lebanon, Middle East and beyond? — Al Jazeera
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- Ten years after Brexit, this is the UK: a divided nation frozen in time | Aditya Chakrabortty — Guardian
- Shipping stalls as Tehran dictates terms in Hormuz — FT
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- Injured and abandoned: hundreds of Gaza amputees left stranded in Egypt — Guardian
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- Iran war has exposed the weakness of the dollar — FT
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- The Moon is already on Google Maps—did Artemis II really tell us anything new? — Ars Technica
- Trump criticises Nato as alliance chief describes meeting as ‘very frank’ — BBC News
- Hizbollah attacks Israel after wave of strikes on Lebanon — FT
- 22,000 students told to pay back ‘mis-sold’ maintenance loans — BBC News
- Will Trump stick with his Iran truce? — FT
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- Farmers warn of higher food costs due to Iran war — BBC News
- Trump admin makes sweeping request for medical records of federal workers — Ars Technica
- The third Gulf war will scar energy markets for a long time yet — The Economist
- WireGuard VPN developer can’t ship software updates after Microsoft locks account — TechCrunch
- Every company is now a media company—and every boss a star — The Economist
- Twenty Twenty Six review – Hugh Bonneville’s World Cup comedy wields jokes as subtly as foam mallets — Guardian
- A self-driving car in Texas hit and killed a mother duck, sparking neighborhood outrage — TechCrunch
- With the ceasefire looking shaky, the Gulf questions its future — The Economist
- LinkedIn scanning users’ browser extensions sparks controversy and two lawsuits — Ars Technica
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- Iran-linked hackers disrupt operations at US critical infrastructure sites — Ars Technica
- Negotiators face huge task to close gaps in rival Iran peace proposals — BBC News
- Ceasefire offers moment of respite for battered Tehran — FT
- The war was steadily spiralling in scope and destruction — The Economist
- Israel says it hit Lebanon 100 times in just 10 minutes — BBC News
- Jeremy Bowen: Ceasefire means respite for civilians, but it might not last long — BBC News
- Liberal judge cruises to victory in Wisconsin Supreme Court race — Politico
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BBC News, Guardian, Al Jazeera, FT, Ars Technica, The Economist, TechCrunch, Politico — 2026-04-09