Iran and the U.S. are both claiming victory, but the terms are murky and Israel says the deal does not include Lebanon, even as Hezbollah says it is abiding by the ceasefire.
And global markets are surging on the news, but analysts warn the damage done to oil infrastructure will keep prices high for a long time to come.
Want more analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter.
Today’s episode of Up First was edited by Rebekah Metzler, Gerry Holmes, Rafael Nam, Mohamad ElBardicy, and Alice Woelfle.
It was produced by Ziad Buchh and Ava Pukatch.
Our director is Kaity Kline.
We get engineering support from Neisha Heinis. Our technical director is Carleigh Strange.
And our Supervising Producer is Michael Lipkin.
(0:00) Introduction
(01:58) Trump-Iran Ceasefire
(05:41) Iran On Trump's Reversal
(09:51) Markets React To Reopening Of Hormuz
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