Israeli journalist and political analyst for CNN, Axios, Channel 12 News
Israel and Iran have exchanged strikes for the first time since an April ceasefire and then halted offensive action after intense exchanges. Iran fired ballistic missiles at Israel in retaliation for Israeli strikes on Lebanon; Israel struck military and energy sites in Iran. Both sides have warned they will resume if attacks continue.
Oil and petrol prices have fallen after the U.S. and Iran reached a tentative deal to reopen the Strait of Hormuz, but global inventories and U.S. strategic reserves have dropped to decades-low levels and will take months to rebuild. Consumers are seeing smaller pump prices now; wholesale and crude markets remain fragile while production, shipping and refinery capacity restart is underway.
Gas prices have declined for three weeks as tensions ease and the Strait of Hormuz debate continues; oil benchmarks have pulled back from peaks as markets anticipate potential reopening and a surge in tanker traffic.
The Financial Conduct Authority has had parts of its £9.1bn motor‑finance compensation scheme suspended after legal challenges from Volkswagen Financial Services, Mercedes‑Benz Financial Services, Crédit Agricole Auto Finance and consumer group Consumer Voice. The Upper Tribunal has set hearings for December or February; lenders will not need to calculate or pay redress while legal proceedings continue, delaying mass payouts until at least 2027 if the scheme survives.
Sen. Lindsey Graham has died after a career shaping US foreign policy. Axios reports he believed a Saudi-Israel normalization deal could anchor a regional settlement and help end Iran’s war, planning intensive diplomacy after Israel’s elections and the US midterms. He urged a swift move if diplomacy failed to reopen the Hormuz Strait.
The United States has paused nightly airstrikes on Iran and Tehran has halted retaliatory attacks for at least two days while mediators from Qatar, Pakistan and Oman exchange messages. Advisers warned President Donald Trump that continued strikes risked depleting munitions and running out of targets; oil prices have fallen as markets price the lull.
Lebanon has opened a legal inquiry into banker Antoun Sehnaoui after a Washington dinner with Israeli Prime Minister Benjamin Netanyahu, as U.S.-backed talks with Israel press toward a framework for disarmament and withdrawal in southern Lebanon. Probes focus on whether the meeting violated Lebanon’s anti-normalisation laws; investigations could lead to arrest warrants. Lebanon’s crackdown comes as talks seek to ease decades of conflict and potential peace arrangements.