Live updates: Iran war, Trump optimistic about deal, Strait of Hormuz blockade

Key Points:

• Global stock markets are rising as optimism grows over US-Iran talks potentially leading to a ceasefire, despite Iranian threats to disrupt shipping in the Red Sea; Brent crude and WTI oil prices increased but remain below $100 per barrel.
• The White House expressed hope for a deal with Iran, with a possible second round of talks in Pakistan, while historic direct talks between Israel and Lebanon are scheduled, aiming to ease regional conflicts.
• Bank of England Governor Andrew Bailey warned that the energy crisis caused by the Iran war will likely increase inflation and hinder interest rate cuts in the UK, complicating economic policy decisions.
• Pakistan is playing a key mediating role in US-Iran negotiations, with its military chief meeting Iranian officials to discuss recent communications; diplomatic efforts continue amid ongoing regional hostilities.
• China reported stronger-than-expected economic growth in Q1 2024 despite global trade disruptions from the Iran conflict, though officials caution about future volatility; meanwhile, some Chinese airlines canceled flights due to rising fuel costs.