Ceasefire๐ฟ talks ongoing*: Senior Pakistani officials arrived in Tehran to help lock in a USโIran ceasefire agreement before it expires next week. Negotiations are set to start in Pakistan on Saturday. - *Tensions still high*: Iranโs new supreme leader, Mojtaba Khamenei, called the current standoff the โthird imposed warโ and warned Iran wonโt give up its rights during talks. He also mentioned moving management of the Strait of Hormuz โinto a new phaseโ. - *Regional spillover*: The war has already drawn in other actors. US officials said the conflict with Iran would last โweeks not monthsโ, and Yemenโs Iran-backed Houthis fired missiles at Israel for the first time in this war. - *Economic impact*: The conflict is being called a โmajor supply shockโ by the Bank of England governor. Europeโs jet fuel reserves are down to six weeks, per the IEA head.๐ฟ๐๐ฟ
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