The Ambassador of Israel to the United States has revealed that Israel and Hezbollah are reportedly nearing a truce agreement, signaling a potential de-escalation in ongoing hostilities.
Meanwhile, the United Nations’ Syria envoy, Geir O. Pedersen, has raised concerns over the escalating tensions, stating that the Middle East is “at a very critical point.” Pedersen emphasized the urgent need for ceasefires in Lebanon and Gaza to prevent Syria and Iraq from being further entangled in the region’s conflicts.
This development could ease geopolitical tensions in the region and is being viewed as neutral to negative for crude oil prices, as it may alleviate fears of supply disruptions from the Middle East.
Following a meeting with Syrian Foreign Minister Bassam Sabbagh in Damascus, Pedersen stated, “We agreed that it is extremely critical that we de-escalate so that Syria is not further dragged into this. You also have seen now increased nervousness in Iraq when it comes to developments.”
The envoy also highlighted the humanitarian challenges arising from Israel’s attacks on Lebanon, which have forced approximately 400,000 Syrians, who had sought refuge in Lebanon during Syria’s civil war, to return home. Pedersen urged the Syrian government and international community to provide protection and support for the returnees, stating that this development places a significant responsibility on all stakeholders.
This dual development — the possible truce between Israel and Hezbollah, and the broader regional implications highlighted by the UN — underscores the fragile and complex nature of the situation in the Middle East, which continues to hold geopolitical and economic significance.
