As Trump-backed talks follow the extension of a fragile Lebanon ceasefire, tensions with Iran keep escalating. Israel says it is ready to renew action against Iran, awaiting a US green light, while Iran steps up mine deployment near the Strait of Hormuz. Iranian officials also discussed the ceasefire with Pakistani counterparts as diplomacy and military risk move in parallel.
Global crude oil prices rose for a fourth straight session on April 23, with Brent climbing above $104 a barrel. Traders are weighing signals that tensions may ease against renewed fears of a sustained Middle East supply deficit. The rally follows the collapse of peace talks and a US naval blockade targeting Iranian ports, reigniting concerns around Hormuz shipping routes.
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Gold prices stayed steady and are poised for a fourth weekly gain as hopes for a US-Iran peace deal reduce worries about inflation and interest rates. Optimism also grew after a ceasefire between Lebanon and Israel, with potential US-Iran talks over the weekend. Even with stable US unemployment claims, employers remain cautious amid the ongoing conflict.
Pope Leo XIV called for renewed peace talks between the United States and Iran to end the war, urging de-escalation through diplomacy. In the same remarks, he condemned capital punishment and urged humane treatment of migrants. He also suggested the Church should balance its focus on sexual morality with greater emphasis on justice and freedom as he returned from a trip to Africa.
Oil prices edged lower as investors leaned into optimism that a potential US-Iran deal could ease supply-disruption fears. That improving outlook weighed more heavily than worries from other ongoing geopolitical tensions, helping sentiment turn cautious but not panicked. The move signals markets are reacting faster to deal expectations than to disruption headlines for now.
President Donald Trump extended the US-Iran ceasefire as a looming deadline approached, injecting brief optimism that talks could resume. But uncertainty remains: VP Vance’s Islamabad trip was paused amid Iran’s hesitation, while the US naval blockade continues. Tehran says negotiations won’t move forward unless the blockade is lifted first, leaving the deadlock unresolved.
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With the April 22 U.S. Iran ceasefire deadline approaching, Iranian professor Mohammad Marandi warns diplomacy is stuck. In an exclusive interview, he says Tehran has no plans to resume talks in Islamabad, citing deep distrust in the Trump administration and accusing both sides of continued ceasefire violations. The window for a breakthrough appears to be closing fast.
China says it made its “own efforts” to push for a ceasefire between the US and Iran, after reports credited Beijing with brokering a two-week pause in hostilities. Foreign ministry spokeswoman Mao Ning said China engaged in diplomacy to de-escalate tensions and support long-term regional stability, positioning its role amid escalating concerns.
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