{"id":107070,"date":"2026-04-08T00:00:00","date_gmt":"2026-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=107070"},"modified":"2026-04-08T04:03:53","modified_gmt":"2026-04-08T04:03:53","slug":"this-morning-the-us-and-iran-agree-to-a-two-week-ceasefire","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/04\/08\/this-morning-the-us-and-iran-agree-to-a-two-week-ceasefire\/","title":{"rendered":"THIS MORNING: The US and Iran agree to a two-week ceasefire"},"content":{"rendered":"

Good morning, ladies and gent<\/strong>s.<\/strong> The shift in mood is stark this morning after the overnight <\/strong>announcement of a two-week ceasefire<\/strong> between the US and Iran.<\/p>\n

<\/a> Here\u2019s what we know: <\/strong>Washington will \u201csuspend the bombing and attack of Iran for a period of two weeks\u201d if Tehran reopens the Strait of Hormuz, US President Donald Trump said<\/a>. Tehran responded by saying<\/a> it would halt its attacks across the Gulf if the US and Israel stop their attacks. The Islamic Republic also said it would open the Strait of Hormuz, allowing vessels to transit the waterway in coordination with Iranian armed forces. This came hours before Trump\u2019s deadline for Tehran to reopen the Strait of Hormuz or else a \u201cwhole civilization will die.\u201d<\/p>\n

What happens next?<\/strong> The two sides will meet on Friday to \u201cfurther negotiate for a conclusive agreement to settle all disputes,\u201d Pakistan\u2019s Prime Minister Shehbaz Sharif said<\/a>. Trump said Iran presented a 10-point proposal, which he called a \u201cworkable basis on which to negotiate.\u201d<\/p>\n

The question is whether the ceasefire will hold: <\/strong>Despite the ceasefire announcement, Saudi authorities issued a security alert to residents and activated air defenses, along with the UAE, Bahrain, and Kuwait, Reuters<\/a> reports. The UAE, Qatar, and Kuwait reported a fresh round of missile attacks. A US official told the New York Times<\/a> that Washington has halted strikes against Iran in accordance with the agreement shortly after the announcement.<\/p>\n

Market reax: <\/strong>Oil dipped below USD 100 per barrel<\/a> following the news, with Brent dropping as much as 16% to below USD 92 earlier today.<\/p>\n

Asian markets cheered the ceasefire<\/strong>, with Japan\u2019s Nikkei climbing over 5% and South Korea\u2019s Kospi rising almost 6% in early trading. Western futures markets \u2014 in the US and Europe \u2014 also posted gains across the board.<\/p>\n

What this means for us at home: <\/strong>The reopening of Hormuz means oil exports can once again start making their usual trips to their destinations, helping end one of the worst disruptions the global energy market has ever seen.<\/p>\n

Before the ceasefire: <\/strong>Explosions were reported in the Jubail industrial city early yesterday morning, which authorities said were due to debris from intercepting seven ballistic missiles over the Eastern Province. Jubail is one of the largest petrochemical production hubs in the world, with an annual output of about 60 mn tons \u2014 amounting to 6-8% of global supply.<\/p>\n

Precautions are being taken: <\/strong>Traffic on the King Fahd Causeway to Bahrain was temporarily<\/a>suspended<\/a> yesterday morning but was later resumed. Unconfirmed media reports also said some business hubs extended their work-from-home advisories.<\/p>\n

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WEATHER- <\/strong>Thunderstorms, rain, and possible hail will be hitting Najran, Asir, Jazan, Baha, Makkah, and Riyadh today.<\/p>\n