KATHMANDU: Oil prices fell and global stocks rose on Tuesday amid hopes for a possible deal to end the ongoing tensions in West Asia, even as new developments continued to unfold across the region.
US President Donald Trump said that representatives from Iran had contacted the United States seeking a possible agreement. His remarks came after weekend peace talks held in Pakistan ended without a breakthrough, though both sides reportedly identified some areas of potential agreement.
Meanwhile, Iran strongly criticised a US naval blockade around its ports, describing it as a “grave violation” of its sovereignty. The blockade came into effect on Monday. Trump warned that US forces would destroy any Iranian “fast attack ships” that approach American naval vessels enforcing the blockade.
In Lebanon, Hezbollah leader Naim Qassem urged the Lebanese government to cancel a planned meeting with Israel in Washington, reiterating the group’s opposition to direct negotiations with Israel.
Concerns about the global energy market have also intensified. Executive Director of the International Energy Agency Fatih Birol warned that April could prove more challenging for energy markets than March due to supply disruptions caused by the crisis. He made the remarks after meetings at the International Monetary Fund in Washington.
Trump also claimed that 34 ships had passed through the Strait of Hormuz in a single day, describing it as the highest number since the strategic waterway was partially disrupted during the crisis. The figure could not be independently verified.
At the same time, Trump rejected criticism from Pope Leo XIV, who had called for an end to the conflict in West Asia. Trump said he had “nothing to apologise for” and defended his administration’s stance on Iran. However, Giorgia Meloni, prime minister of Italy, condemned Trump’s criticism of the pope as “unacceptable”.
On the military front, the Israel Defense Forces said it carried out strikes on around 150 targets linked to Hezbollah across southern Lebanon within the past 24 hours. According to the Israeli military, the targets included military facilities, anti-tank missile launch sites and command centres.
Meanwhile, Prime Minister Shehbaz Sharif of Pakistan said a ceasefire between the United States and Iran was currently holding, though negotiations were ongoing to resolve outstanding issues following the inconclusive talks held over the weekend.
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