Within hours after ceasefire, Iran says oil refinery attacked

Oman Foreign Minister Badr Al-Busaidi said his country, which has long mediated between Iran and the US, will provide support to negotiations following the two-week ceasefire between the US, Israel and Iran.

Al-Busaidi said serious negotiations are required to establish a lasting regional peace.

The United Arab Emirates announced it would suspend production at the Habshan gas complex.

The Abu Dhabi media office said falling debris from an interception of an attack caused three multiple fires at the facility.

Israel was told the US is committed to removing Iran's nuclear material and missile threat in upcoming negotiations, a senior Israeli official said.

Senior Trump officials told Israel that the US “will firmly insist on removing the nuclear material, stopping enrichment, eliminating the threat of ballistic missiles, and more” during talks expected to take place in the next two weeks, the official said.

The official, who spoke on condition of anonymity to discuss closed diplomatic conversations, described the conditions as “shared goals of Israel and the US”.

There was little indication in public statements and proposals about the ceasefire that Iran and the US had resolved disagreements over Iran's nuclear programme.

Israel's military said Wednesday that it “continues fighting and ground operations” in its war against the Lebanese militia Hezbollah.

The military issued a statement acknowledging that the war was continuing, even after mediator Pakistan said that Israel would halt its attacks as part of a two-week ceasefire in the Iran war.

Iran, in its 10-point list of conditions has also mentioned stopping Lebanon strikes as one.  

Hezbollah has not offered any statement yet.

Taking a swipe at the government, the Congress on Wednesday said the role played by Pakistan in bringing about the ceasefire between the US and Iran is a “severe setback” to Prime Minister Narendra Modi's “highly personalised diplomacy” and “the self-styled Vishwaguru stands thoroughly exposed”.

The opposition party also said Prime Minister Modi's “cowardice is demonstrated by his silence not only on Israel’s belligerence, but on the completely unacceptable and disgraceful language being used by his good friend in the White House”.

Congress general secretary in-charge communications Jairam Ramesh said: “The conflict had begun on February 28th with the targeted assassinations of the topmost echelons of the regime in Iran. These had started just two days after Prime Minister Modi had completed his much-trumpeted visit to Israel, a visit that diminished India’s global stature and standing.”

PM Modi had said nothing about Israel’s “genocide” in Gaza and its aggressively expansionist policies in the occupied West Bank, Ramesh said.

“The role played by Pakistan in bringing about the ceasefire is a severe setback to both the substance and style of Mr Modi’s highly personalised diplomacy,” he said.

“The External Affairs Minister (S Jaishankar) dismissed Pakistan as a dalal. But now the self-styled Vishwaguru stands thoroughly exposed, his self-declared 56-inch chest shrunk and shrivelled,” Ramesh said.

“His cowardice is demonstrated by his silence not only on Israel’s belligerence, but on the completely unacceptable and disgraceful language being used by his good friend in the White House,” the Congress leader added.

Stock market benchmark indices Sensex and Nifty surged in early trade on Wednesday following a sharp rally in global peers and a significant drop in crude oil prices after the US and Iran announced a two-week ceasefire.

The 30-share BSE Sensex jumped 2,775.73 points or 3.71 per cent to 77,392.31 in early trade. The 50-share NSE Nifty surged 815.2 points or 3.52 per cent to 23,938.85.

From the 30-Sensex firms, InterGlobe Aviation jumped the most by nearly 10 per cent. Larsen & Toubro, Bajaj Finance, Adani Ports, Bajaj Finserv and Mahindra & Mahindra were also among the prominent gainers.

Tech Mahindra emerged as the only laggard from the pack.

Brent crude, the global oil benchmark, tumbled 13.24 per cent to USD 94.80 per barrel.

US President Donald Trump in a social media post declared the ceasefire agreement a “big day for World Peace” and that the US “will be helping with the traffic buildup in the Strait of Hormuz.” “There will be lots of positive action!” Trump predicted in his post.

Here's his full post: "A big day for World Peace! Iran wants it to happen, they’ve had enough! Likewise, so has everyone else! The United States of America will be helping with the traffic buildup in the Strait of Hormuz. There will be lots of positive action! Big money will be made. Iran can start the reconstruction process. We’ll be loading up with supplies of all kinds, and just “hangin’ around” in order to make sure that everything goes well. I feel confident that it will. Just like we are experiencing in the U.S., this could be the Golden Age of the Middle East!!! President DONALD J. TRUMP."

Pro-government demonstrators in the streets of Iran's capital Wednesday morning after the ceasefire had been announced screamed: “Death to America, death to Israel, death to compromisers!”

Organisers tried at a point to calm demonstrators, but they continued the chants. They also burned American and Israeli flags in the street.

It shows the ongoing anger from hard-liners, who had been preparing for what many assumed would be an apocalyptical battle with the US.