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Iran reopened the Strait of Hormuz to commercial ships as Israel and Lebanon agreed to a 10-day ceasefire, sending oil prices down 11%. The move offers hope for easing tensions in a region that handles one-fifth of the world's oil supply.
After weeks of intense fighting, Israel and Lebanon entered a 10-day ceasefire at midnight on April 17, giving families on both sides their first peaceful night in over a month. The UN is calling the pause a potential doorway to lasting peace negotiations.