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Iran–U.S. Negotiations & Shipping Disruptions: What It Means for Your Wallet

  🔴 Breaking — This Morning President Trump posted on social media Saturday that a peace deal with Iran is "largely negotiated" and will be announced shortly. The Washington Post reports (May 25, 2026) that the U.S. and Iran are actively working toward a framework deal that would extend the ceasefire and reopen the Strait of Hormuz. Oil prices have already reacted — Brent crude fell more than 5% to around $98 a barrel on the news. After nearly three months of conflict, spiralling energy prices, and stalled talks, there is cautious optimism today that a diplomatic breakthrough between the United States and Iran could be imminent. But what exactly is being negotiated — and what does it actually mean for Canadians and consumers at the gas pump, the grocery store, and beyond? Here is everything you need to know, updated with today's latest developments. $4.51 U.S. avg. gas price/gallon — up 51% since the war began -5.2% Brent crude drop today on deal optimism (to ~$98/barre...
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Israel Bombards Central Beirut Ahead of Ceasefire Vote with Hezbollah

 

Israeli warplanes struck central Beirut and the city's southern suburbs on Tuesday, raising plumes of smoke over the Lebanese capital. This escalation comes as Israel's security cabinet prepares to vote on a U.S.-brokered ceasefire proposal aimed at ending more than a year of fighting with Hezbollah.

The proposed ceasefire deal calls for a two-month initial halt in fighting and requires Hezbollah to end its armed presence in a broad swath of southern Lebanon. In return, Israeli troops would withdraw to their side of the border. Thousands of Lebanese troops and U.N. peacekeepers would deploy in the south, with an international panel headed by the United States monitoring compliance.

Despite the diplomatic efforts, Israeli jets targeted at least six buildings in Beirut's southern suburbs, including areas near the country's only airport. The strikes are part of Israel's ongoing campaign to cripple Hezbollah's military capabilities.

Israeli Defense Minister Israel Katz emphasized that the military would act with "great force" if the U.N. peacekeeping force, known as UNIFIL, fails to enforce the ceasefire effectively. The European Union's top diplomat, Josep Borrell, stated that Israel's security concerns had been addressed in the U.S.-French-brokered deal.

The outcome of the cabinet vote could significantly impact regional stability, with hopes that the ceasefire will bring an end to the conflict and reduce tensions between Israel and Hezbollah.


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