Israeli Strikes on Southern Beirut
Israel targeted seven areas in southern Beirut overnight, according to Lebanese state media on Tuesday.
“Enemy warplanes launched seven raids overnight on the southern suburbs,”
reported Lebanon’s state-run National News Agency, as cited by AFP.
New Zealand Announces Cash Support Amid Global Fuel Crisis
Nearly 150,000 New Zealand families are set to receive weekly cash payments to help offset rising petrol costs, marking what is believed to be the world’s first direct fuel relief package to citizens since the onset of the Middle East conflict.
On Tuesday, Prime Minister Christopher Luxon and Finance Minister Nicola Willis announced that approximately 143,000 families with children would receive an additional NZ$50 (US$29/£22) per week through an increase in the in-work tax credit. This credit supports families with dependent children where at least one parent is employed and neither parent receives benefits.
An additional 14,000 families with slightly higher incomes will also be eligible for payments, though at amounts less than NZ$50 per week.
This increase is temporary, effective for one year starting 1 April, or until the price of 91 octane petrol falls below NZ$3 (US$1.75/£1.30) per litre for four consecutive weeks.
Petrol prices in New Zealand have risen approximately 40-50 cents per litre, pushing unleaded fuel prices above NZ$3 per litre on average since the Middle East conflict began.
Some petrol stations have reported shortages as consumers rush to stock up. As of Tuesday, New Zealand held 46 days’ worth of combined petrol, diesel, and jet fuel stocks.
Market Reaction: Shares Rally and Oil Prices Rebound After Trump Extends Iran Ultimatum
Following Donald Trump’s announcement, oil prices rebounded and Asian stock markets rallied as immediate concerns over a deeper energy crisis eased.
On Monday, traders reacted swiftly to the reversal, causing crude futures to drop and shares to surge, while the US dollar and government bond yields declined, according to .
These movements continued into the Asian trading session on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3%, with Australian shares up 0.7%.
Japan’s Nikkei advanced over 2%, recovering most of Monday’s 3.5% loss.
Oil prices edged higher on Tuesday after a 10% decline the previous day. Brent crude futures increased 1% to $100.94 per barrel, and US crude rose 1.9% to $89.84.
Market volatility remains high. Chris Weston, head of research at Pepperstone, commented:
“Price action could remain choppy into Friday’s revised deadline ... The key question is whether participants see this as a genuine extension that brings a deal closer, or simply a delay that prolongs uncertainty.”
Opening Summary
Welcome to our ongoing coverage of the US-Israeli conflict with Iran and its broader implications in the Middle East and globally.
Donald Trump has claimed that the US and Iran have engaged in talks with “major points of agreement” and suggested a deal to end the war could soon be reached. However, Tehran has denied these claims.
Iran’s Islamic Revolutionary Guards Corps (IRGC) described Trump’s statements as
“psychological operations”with no impact on Iran’s efforts, while parliamentary speaker Mohammad Baqer Qalibaf called it
“fake news … used to manipulate the financial and oil markets.”
Despite skepticism about direct negotiations, a European official indicated that Egypt, Pakistan, and Gulf states are relaying messages. On Tuesday, European Commission President Ursula von der Leyen emphasized the urgency of negotiations due to the
“critical”global energy situation.
Speaking in Australia at the conclusion of a new EU-Australia free-trade agreement, she stated:
“The situation is critical for the energy supply allies worldwide. We all feel the knock-on effects on gas and oil prices, our businesses and our societies, but it is of utmost importance that we come to a solution that is negotiated, and this puts an end to the hostilities that we see in the Middle East.”
A Pakistani official and a second source told that direct talks to end the war could take place in Islamabad this week. The official said US President JD Vance, Middle East envoy Steve Witkoff, and Jared Kushner are expected to meet Iranian officials in Islamabad following a call between Trump and Pakistan’s army chief, Asim Munir.
Trump announced that planned US strikes on Iranian power plants were postponed after
“very good and productive”discussions with Iran aimed at a
“complete and total resolution of our hostilities”in the Middle East. Following Trump’s remarks, oil prices, which had reached a four-year high, fell sharply, and Asian stocks rallied.
Israeli Prime Minister Benjamin Netanyahu said he spoke with Trump, who sees potential for an agreement with Iran, but added that Israel would continue its strikes against Iran and Lebanon. Netanyahu stated in a video released by his office:
“Trump believed there was a possibility of leveraging the mighty achievements obtained by the Israeli and the [US], in order to realise the goals of the war in a deal – a deal that will preserve our vital interests.”
Israel reported launching
“wide-scale”strikes on Iran on Monday morning, while Tehran continued missile attacks on the UAE and Saudi Arabia. The Israeli military claimed to have struck the main security headquarters of Iran’s Islamic Revolutionary Guard Corps as part of a
“wave of strikes that was completed a short while ago in the heart of Tehran.”
An Israeli strike also hit Beirut’s southern suburbs on Monday, according to Agence France-Presse quoting state media, hours after the Israeli army ordered residents to evacuate the area. An AFPTV live broadcast showed smoke rising over the densely populated southern suburbs, a Hezbollah stronghold that had not been targeted since Friday night.
British destroyer HMS Dragon arrived in the eastern Mediterranean three weeks after an Iranian-made drone struck the British base of RAF Akrotiri in Cyprus, the UK’s Defence Secretary announced. The British government has faced criticism for delays in deploying a warship to the region, especially after Greece and France sent additional naval support to Cyprus following the attack.
Slovenia became the first EU member state to implement fuel rationing to address disruptions caused by the US-Israeli conflict with Iran and Tehran’s retaliations against their Gulf allies.
Saudi Arabia’s Defence Ministry reported intercepting and destroying at least five drones over the kingdom’s eastern region.
The US embassy in Muscat lifted its shelter-in-place guidance for the city, though the advisory remains in effect for the rest of Oman, according to a statement on X. The embassy had earlier issued a security alert for the entire country due to
“ongoing activity”without providing further details.
