Markets have opened in Asia, and oil prices have fallen as the Israel-Lebanon ceasefire brings optimism that the Middle East conflict could soon end.
Brent crude futures declined more than 1 percent to $98.05 per barrel as of 00:21 GMT.
US oil prices also dipped to below $94 a barrel.
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A ten-day ceasefire deal agreed between Lebanon and Israel took effect on Friday, as US President Donald Trump said he was trying to set up the first-ever face-to-face meeting between the leaders of the two countries.
ReplyDeleteThe truce, which Trump said would begin at midnight local time in Lebanon and Israel (2100 GMT), comes as Washington steps up efforts to reach a deal to end the war with Iran, with Tehran insisting a Lebanon truce must be part of any agreement.
Gunfire rang out in Beirut's southern suburbs, Hezbollah's heartland, as the ceasefire came into effect – an apparent bout of spontaneous celebration, although that could not be confirmed.
Lebanon’s Shia organization Hezbollah told displaced residents of southern Lebanon, the Beqaa valley and the outskirts of Beirut to postpone their return until the situation in those areas is fully stabilized.
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