Ceasefire Declared: Hormuz Reopens But Lebanon Burns

Day 40 (April 8, 2026) ended with a historic but deeply contradictory ceasefire. President Trump announced a 2-week US-Iran ceasefire minutes before his 8PM ET deadline, with Iran agreeing to reopen the Strait of Hormuz under international monitoring. Oil prices immediately plunged 15% below $95/barrel as markets priced in the Hormuz reopening. However the ceasefire immediately showed fractures: UAE, Kuwait and Bahrain all reported Iranian attacks in the hours after the announcement, suggesting IRGC units continued operations without central authorization. Israel explicitly rejected the ceasefire framework, stating it did not extend to Lebanon where IDF continued its largest strike campaign against Hezbollah since the war began. Secretary Hegseth set the core US demand: Iran must hand over its enriched uranium or the US will take it by force. Iran confirmed acceptance while the Islamabad talks scheduled for April 10 remained uncertain.

Key facts

• •Trump announced 2-week US-Iran ceasefire minutes before 8PM ET deadline on April 8
• •Iran agreed to reopen Strait of Hormuz under international monitoring
• •Oil prices fell 15% to below $95/barrel on Hormuz reopening news
• •UAE, Kuwait, Bahrain all reported Iranian attacks despite ceasefire
• •Israel said ceasefire does not extend to Lebanon - IDF continued full operations against Hezbollah
• •Secretary Hegseth set core US demand: Iran must hand over enriched uranium or US will take it by force
• •Islamabad talks scheduled April 10 remain in doubt as Iran rejected uranium handover demand