U.S. President Donald Trump appeared to cast doubt on the effectiveness of the two-week ceasefire over Iran's continued chokehold on the Strait of Hormuz, while Kuwait accused Iran and its proxies of launching drone attacks despite the ceasefire.
Iran’s paramilitary Revolutionary Guard denied launching attacks Thursday night on Persian Gulf states.
Israeli Prime Minister offered a potential boost to ceasefire efforts in the region when he said he had approved direct talks with Lebanon. The Lebanese government has not responded as of Friday morning.
The announcement came after Wednesday killed more than 300 people. The negotiations are expected next week in Washington, according to a person familiar with the matter.
Questions remained over what will happen to Iran’s at the heart of tensions, how and when normal traffic will resume , and what happens to Iran’s ability to launch future missile attacks and support armed proxies in the region.
Talks between the United States and Iran on a resolution to the conflict are expected to start Saturday in Islamabad, with the White House saying Vice President JD Vance would lead the U.S. delegation.
Here is the latest:
Singapore rules out restrictions on fuel exports
Singapore’s Prime Minister Lawrence Wong said the island state will not restrict fuel exports from its refineries due to Iran war disruptions. Singapore was Australia’s largest supplier of refined petroleum products.
“We do not plan to restrict exports. We didn’t have to do so even in the darkest days of COVID and we will not do so during this energy crisis,†Wong said at a news conference with his Australian counterpart Anthony Albanese. “It’s hypothetical. It won’t happen,†Wong added.
Albanese said Wong had given the same assurance in their bilateral meeting. “The prime minister’s just as confident in private as he is in public,†Albanese said.
Ukrainian forces shot down Shahed drones during Iran war, Zelenskyy says
Ukrainian military personnel in multiple Middle Eastern countries during the Iran war, President Volodymyr Zelenskyy said, describing the operations as part of a broader effort to help partners counter the same weapons used by Russia in Ukraine.
Zelenskyy made his first public acknowledgment of the operations Wednesday in remarks to reporters that were embargoed until Friday.
Zelenskyy said Ukrainian forces took part in active operations abroad using domestically produced, battle-tested interceptor drones.
Oil gains and Asian stocks are mostly higher ahead of planned U.S.-Iran talks
Asian stocks were mostly up Friday while oil prices also rose on the fragile Iran war ceasefire and ahead of Iran-U.S. negotiations in Pakistan over the weekend.
South Korea’s Kospi was up 1.5% to 5,862.58. Tokyo’s Nikkei 225 climbed 1.9% to 56,952.60.
Hong Kong’s Hang Seng gained 0.8% to 25,954.15, while the Shanghai Composite index was also 0.8% higher at 3,996.34.
Brent crude, the international standard, was 1% higher at $96.92 per barrel. Benchmark U.S. crude was up 0.8% to $98.62 a barrel.
For oil prices, “$65-70 a barrel is not coming back,†Ajay Rajadhyaksha of Barclays wrote in a recent research note, referring to the pre-Iran war oil price levels. The bank predicts that Brent crude could remain at around $85 per barrel on average for this year.
“A ceasefire is not a refund,†he wrote. “Ceasefires end wars; they don’t undo them.â€
Islamabad locked down ahead of US-Iran talks
Pakistan’s capital fell unusually quiet Friday as authorities locked down Islamabad ahead of high-stakes talks between the United States and Iran aimed at securing a lasting ceasefire after weeks of war.
Roads lay nearly empty, checkpoints were set up at major arteries, and a two-day public holiday kept residents indoors.
Behind the calm, diplomatic activity intensified.
U.S. Vice President JD Vance is set to leave for Pakistan Friday, while an Iranian delegation was also expected there.
Security was tightened, with additional troops and police deployed across Islamabad.
Talks are set to begin Saturday, drawing global attention and placing to bring an end to the war.
Air defense fire and explosions heard in Iran
Multiple times overnight into Friday morning, people around Iran’s capital, Tehran, and other parts of the country said they heard what sounded like air defense fire and explosions.
However, Iran’s government did not acknowledge any attack during that period.
After past exchanges of fire with Israel, similar incidents happened as troops remained on edge.
Japan releases more oil reserves
Japan said it will release an additional 20 days’ worth of oil reserves in May, in a second round address supply uncertainty over the war in the Middle East.
Japanese Prime Minister Sanae Takaichi said the planned release of the government reserves will start in early May, after an earlier release last month.
Japan started releasing about 50 days’ worth of oil reserves in March, including from those held by the state, the private sector and oil-producing Gulf nations.
As of April 6, Japan had 230 days’ worth oil reserves, including 143 days’ worth in government stockpiles, according to the Natural Resources and Energy Agency.
Takaichi said her government is working to secure oil imports via routes that do not include the Strait of Hormuz, while Japan seeks to diversify suppliers.
Pakistan to issue visas on arrival ahead of talks
Pakistan said Friday it would issue visas on arrival for those traveling to Islamabad for the Iran-U.S. talks, signaling the interest in the world’s media in the event.
