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Middle East War Day 49: Hormuz Strait Reopens, Lebanon Ceasefire; Latest Developments at a Glance

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Entering the 49th day of the Middle East conflict, significant progress has been made with indications of a peace deal between the US and Iran being "no longer at an impasse." The Strait of Hormuz has reopened to commercial shipping, and a ceasefire has taken effect in Lebanon, leading to a sharp drop in oil prices and a surge in European and US stock markets.

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