US, Iran weigh longer truce as Israel, Lebanon clinch ceasefire

President Donald Trump said Israel and Lebanon had agreed to a 10-day ceasefire, a move that offers to ease tensions more broadly in the region while the U.S. and Iran are in discussions to extend their own truce ahead of its expiration next week.

Trump announced the Israel-Lebanon truce in a social media post on Thursday, noting that it would begin at 5 p.m. New York time. He also directed Vice President JD Vance and Secretary of State Marco Rubio and Joint Chiefs of Staff Chairman Dan Caine to “to work with Israel and Lebanon to achieve a Lasting PEACE.”

Israel has kept up its fighting against Iranian proxy Hezbollah in southern Lebanon, a military campaign that has threatened to derail the separate ceasefire with Iran. Trump’s announcement on Thursday made no mention of Hezbollah.

Separately, Pakistan’s army chief, Asim Munir, traveled to Iran this week as his nation seeks to mediate a longer truce between Washington and Tehran. Pakistan hosted high-level talks between U.S. and Iranian officials last weekend — discussions that failed to yield a breakthrough amid the six-week war. Munir was greeted by Iran’s Foreign Minister Abbas Araghchi.

The U.S. and Iran are considering a two-week ceasefire extension, according to a person familiar with the matter, who asked not to be identified discussing sensitive matters. Neither side wants to resume fighting, said another person familiar with the discussions.

Comments from both Iranian and U.S. officials on Thursday suggest the sides remain far apart on key issues, but the ceasefire with Lebanon could provide fresh momentum. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf, who took part in the Pakistan talks, had earlier said a permanent ceasefire must cover the fighting in Lebanon.

Control over the Strait of Hormuz, a key waterway for energy supplies, remains contentious, with a U.S. naval blockade now into its fourth day. Iran, which has effectively shuttered the strait since the start of the war, is meanwhile pressing ahead with plans to charge ships for transit even after the war is over.

U.S. Defense Secretary Pete Hegseth said the U.S. military is ready to resume combat “at the push of a button,” whenever Trump gives the order, and warned Iran not to make poor choices.

There is a possibility the conflict turns into a “frozen war,” according to Sorana Parvulescu, a partner for Europe, Middle East and Africa at Control Risks.

“That is becoming more feasible because there is no good military option on the table right now for the U.S. and because the deal is probably going to prove itself more elusive than meets the eye,” she said in an interview with Bloomberg TV on Thursday.

Fourteen vessels have turned around in three days rather than test the U.S. naval blockade on Iranian-linked ships crossing the strait, U.S. Central Command said.

Iran sees a prolonging of the U.S. blockade as “a prelude to a breach of the ceasefire,” said Ali Abdollahi, the commander of Iran’s joint military headquarters, according to state TV.

The U.S. is sending thousands of additional troops to the Middle East in the coming days to pressure Tehran into making a deal, the Washington Post reported, citing officials it didn’t name.

The MSCI All Country World Index — the broadest measure of global shares — rose as much as 0.3% to a record and was headed for a 10th day of gains on Thursday, as markets broadly remained optimistic about a deal. Futures for the S&P 500 edged higher after the benchmark closed above the 7,000 mark for the first time.

While Israel joined the U.S. in halting attacks on Iran last week, its military has kept up the campaign against Hezbollah in Lebanon, complicating the broader push for peace.

Prime Minister Benjamin Netanyahu said he told the Israeli military, which invaded Lebanon last month, to expand the buffer zone it’s seeking to establish inside the country.

Trump said he spoke with his Lebanese counterpart, Joseph Aoun, and Netanyahu before declaring the ceasefire.

Talks between Israel and the government in Beirut, which has little sway over Hezbollah, had taken place on Tuesday in Washington. That conflict has killed more than 2,000 people and displaced a million, according to Lebanese authorities.

Trump has vacillated between declaring the conflict with Iran nearly won and threatening escalation, while questions remain about the issues that drove the U.S. and Israel to launch the latest bombardment — chief among them concerns over Iran’s nuclear program.

Iran has said it isn’t pursuing a weapons program. The country’s right to peaceful use of nuclear energy “cannot be revoked,” Foreign Ministry Spokesman Esmail Baghaei said Wednesday. However, the level and type of enrichment are “negotiable,” he added.

Even with a U.S.-Iran deal, restoring Gulf energy flows fully may take weeks or even months, adding to fears of global inflation and a slowdown in economic growth. There are also concerns about disruptions to other supplies, particularly fertilizer, where shortages could hurt food output and raise prices.

The United Nations is ready to set up a corridor to move fertilizer through Hormuz, though it hinges on a political agreement, according to a top U.N. official.

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—With assistance from Paul Wallace and Meghashyam Mali.