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Iran signaled that it was ready to wind down a military escalation with Israel on Monday after the adversaries traded attacks for hours, shattering a fragile two-month cease-fire and bringing the Middle East back to the precipice of full-blown war.
In remarks carried by Iranian state television on Monday afternoon, Iran’s military said that it was ceasing its attacks for now. But it warned that if Israel resumed its own strikes, including in southern Lebanon, “much harsher and more forceful actions than before will follow.”
Iran fired waves of ballistic missiles at Israel on Sunday night in retaliation for an Israeli strike near the Lebanese capital, Beirut, against its ally Hezbollah. The Israeli military said on Monday morning that it had launched two waves of airstrikes across Iran, including against the country’s largest petrochemical complex, prompting further Iranian missile attacks on central Israel.
President Trump on Monday called on both countries to “immediately stop” the attacks. He also promised that a final deal to end the war in the Middle East was on the way, although the president’s predictions of an agreement with Iran have frequently failed to materialize.
More than 18 hours into the escalation, Benjamin Netanyahu, the Israeli prime minister, had yet to comment publicly on the crisis. Mr. Trump told Axios on Sunday night that he was planning to call Mr. Netanyahu to ask him not to retaliate.
The fighting left Israelis and Iranians bracing for a return to the all-out conflict that began in February with the U.S.-Israeli assault on Iran. Mr. Trump has been unable to extricate the United States from the widely unpopular war with Iran, which has jacked up global oil and gas prices.
Here’s what else to know:
Energy markets: The price of oil jumped after Israel and Iran exchanged strikes but pared back much of those gains. Brent crude, the global benchmark for oil, was almost 2 percent higher to about $95 a barrel, and West Texas Intermediate crude, the U.S. marker, was up around 2 percent to around $92 a barrel. Read more ›
Yemen: The Iran-backed Houthis in Yemen fired a ballistic missile at central Israel on Monday and announced a naval blockade against Israel in the Red Sea, although it was unclear what that threat would mean in practice. Earlier Houthi attacks in the Red Sea snarled global shipping and prompted a U.S.-led bombing campaign.
Israeli politics: For Mr. Netanyahu, a resumption of fighting with Iran may offer some short-term advantages at home, though it could also further inflame regional tensions
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