US-Iran Peace Talks and Lebanon Ceasefire

United States President Donald Trump has expressed confidence that a peace agreement to end the Iran war could be reached soon, with a potential meeting between the United States and Iran at the weekend. This development comes as a 10-day truce between Lebanon and Israel, mediated by Pakistan, went into effect, with Donald Trump urging Hezbollah to respect the ceasefire. The conflict, which began on February 28 with a United States-Israeli attack on Iran, has caused the worst oil price shock in history and led to an International Monetary Fund downgrade of the global economic outlook. Negotiations are ongoing, with discussions in Islamabad addressing Iran's nuclear ambitions and the lifting of international sanctions. The United States has proposed a 20-year suspension of Iran's nuclear activity, while Iran suggested a three-to-five-year halt. There are signs of compromise on Iran's highly enriched uranium stockpile. The Strait of Hormuz, critical for global oil supply, remains largely closed due to Iran's actions and a United States blockade on Iranian ports. Despite a fragile ceasefire in Lebanon, with Israel reportedly violating it, market sentiment is optimistic, leading to a fall in Brent Crude and West Texas Intermediate prices and a rally in Asian stock markets.