US oil prices jump 5% on ceasefire concerns: Live updates

West Texas Intermediate – the US standard for oil – has spiked by 5% since markets opened, amid concerns that the fragile ceasefire between the US and Iran may not hold.

Israeli PM Benjamin Netanyahu said today that Israel would keep hitting Iran-backed Hezbollah ‘wherever necessary’, the day after Israeli strikes pummelled Lebanon.

‘We are continuing to strike Hezbollah with force, precision, and determination,’ Netanyahu said on his personal X account.

‘Our message is clear: anyone who acts against Israeli civilians – we will strike them. We will continue to hit Hezbollah wherever necessary, until we fully restore security to the residents of the north’ of Israel, he added.

UK defence secretary John Healey today said at a press conference: ‘I’m pretty clear that Putin would want us to be distracted by the Middle East.’

He added: ‘What I’m setting out today demonstrates that we are not just exposing his covert operation, but we are saying to him that we recognise Russia as the primary threat to the UK and to NATO, and that we will not take our eyes off Putin, whilst at the same time we act to protect our British interests and our British allies in the Middle East.’

Mohammad-Bagher Ghalibaf, the speaker of Iran’s parliament, has warned that violations of the truce will ‘carry explicit costs and STRONG responses.’

He added: ‘Lebanon and the entire Resistance Axis, as Iran’s allies, form an inseparable part of the ceasefire.

‘[Pakistani] PM Shehbaz Sharif publicly and clearly stressed the Lebanon issue; there is no room for denial and backtracking.’

The criminal trial of Israel Prime Minister Benjamin Netanyahu is set to continue on Sunday after weeks of delays because of the war.

A hearing is scheduled for Sunday at 9:30am in the Jerusalem District Court.

The Israeli PM is standing trial accused of bribery, fraud and breach of trust in connection with three separate cases. He denies wrongdoing.

Trump has repeatedly urged Israel’s president Isaac Herzog to drop the cases against Netanyahu.

Iran’s president has claimed Israel’s incursion into Lebanon is a ‘blatant violation’ of the ceasefire.

In a post on X, Masoud Pezeshkian also claimed Iran will ‘never abandon’ Lebanon and their ‘fingers remain on the trigger’.

He wrote: ‘Israel’s renewed incursion into Lebanon is a blatant violation of the initial ceasefire agreement.

‘This is a dangerous sign of deception and lack of commitment to potential agreements. The continuation of these actions will render negotiations meaningless.

‘Our fingers remain on the trigger. Iran will never abandon its Lebanese sisters and brothers.’

Iran’s parliament speaker warned that Lebanon is an ‘inseparable’ part of the ceasefire.

In a post on X, Mohammad Bagher Qalibaf wrote: ‘Lebanon and the entire Resistance Axis, as Iran’s allies, form an inseparable part of the ceasefire.’

He added: ‘Ceasefire violations carry explicit costs and STRONG responses. Extinguish the fire immediately.’

EU leaders have roundly condemned suggestions of a toll being implemented for vessels seeking to navigate through the Strait of Hormuz.

The EU said that freedom of navigation in the waterway must be ensured with ‘no payment or toll whatsoever’, after Iran suggested it could charge for letting ships pass.

‘International law provides for the freedom of navigation, which means… basically no payment or toll whatsoever,’ European Commission spokesman Anouar El Anouni said. ‘Freedom of navigation is a public good and needs to be ensured.’

Yesterday Donald Trump called a US-Iran deal to reopen the Strait of Hormuz a ‘joint venture’ as Tehran prepares to charge ships up to $1 million per vessel to pass.