Main Points Donald Trump has agreed to a proposed two-week ceasefire between the US and Iran, conditional on the Strait of Hormuz being reopened Trump had set a deadline of 1am (Irish time) for a ceasefire deal or claimed “a whole civilisation will die”Oil prices fell sharply on the news, with Brent crude oil, the international standard, declining 14.4 per cent to $93.48Trump told the AFP news agency the deal was a “total and complete victory” for the USSimon Harris welcomed the ceasefire saying it followed “unacceptable threats that are well outside international norms”Best Reads
Órla Ryan – 4 minutes ago
Israel says it has ceased strikes in Iran, will continue to hit Lebanon
The Israeli military said on Wednesday it has ceased fire in the campaign against Iran in accordance with directives from the political echelon, after the US announced a two-week ceasefire with Iran.
Israel said the ceasefire does not apply to Lebanon and it will continue operations against Hizbullah there. – Reuters
Órla Ryan – 9 minutes ago
Stock markets in the Gulf region jumped on Wednesday in line with global equities.
In Asia, Japan’s Nikkei was up about 5.4 per cent while South Korea’s KOSPI gained 6.8 per cent, triggering a brief halt in trading. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1 per cent.
Dubai’s main market spiked as much as 8.5 per cent, its highest intraday gain in more than 11 years, with the heavyweight real estate and financial sectors outperforming.
At 8.30am Irish time the Dubai index was trading 6.4 per cent higher, led by a 9.8 per cent jump in blue-chip developer Emaar Properties and an 11.3 per cent rise in top lender Emirates NBD Bank.
Abu Dhabi’s benchmark index climbed as much as 4.9 per cent in early trade, its biggest jump in six years, boosted by gains in the financial, real estate, logistics and energy sectors.
The Abu Dhabi index was up 3.2 per cent with the largest lender, First Abu Dhabi Bank, rising 8.3 per cent and real estate giant Aldar Properties jumping 8.8 per cent. – Reuters
Órla Ryan – 12 minutes ago
Von der Leyen welcomes ceasefire 
European Commission president Ursula von der Leyen on Wednesday welcomed the two-week ceasefire agreed by the United States and Iran. Photo: John Thys/AFP via Getty Images
European Commission president Ursula von der Leyen has welcomed the two-week ceasefire agreed by the United States and Iran, saying it would ease tensions.
“I welcome the two-week ceasefire the US and Iran agreed last night. It brings much needed de-escalation”, she said, adding it was crucial negotiations continue for an enduring solution. – Reuters
Órla Ryan – 19 minutes ago
Wall Street futures jump amid ceasefire relief
US stock index futures jumped on Wednesday as investors breathed a sigh of relief after the US and Iran agreed to a two-week ceasefire, sending crude prices lower on expectations that energy supplies from the Middle East could resume.
The announcement late on Tuesday came hours before Trump’s deadline, after which he said the US would inflict devastating attacks on Iran’s civilian infrastructure if Tehran did not reopen the strategic Strait of Hormuz.
The rally was visible across global asset classes. Equity indexes in major Asian and European markets shot up between 4 to 5 per cent, while crude prices rolled 16 per cent to near $90 (about €77) a barrel, and the dollar, which had seen safe-haven interest over the past month, fell 1 per cent against the Japanese yen.
Investors have been navigating the ebb and flow of the conflict that has extended to over a month, as Trump suggested an earlier end to the war several times, while on the flipside, Iran has denied all reports of negotiations.
The worry is that the prolonged conflict and soaring energy costs could weigh on economic growth and complicate the Federal Reserve’s monetary policy path. March was the benchmark S&P 500’s biggest monthly fall in a year. – Reuters
Órla Ryan – 22 minutes ago
Fuel depots blocked in Galway and Limerick
There is a risk that fuel supplies at forecourts could be impacted as fuel depots in Galway and Foynes, Co Limerick, have been blocked by protesters, Kevin McPartland, CEO of Fuels for Ireland, said.
Speaking on Morning Ireland, McPartland described the situation as “very concerning”.
He said he felt sympathy for protesters – many of whom have been impacted by a huge increase in fuel costs – but encouraged them to not block fuel deliveries to forecourts.
Órla Ryan – 33 minutes ago
Significant traffic delays have been reported in Dublin city and several other locations across the country as protests against rising fuel costs enter a second day. You can read the latest updates in our live story here.
Órla Ryan – 42 minutes ago
FTSE 100 index jumps while energy companies slide
The FTSE 100 index has jumped 273 points, or 2.6 per cent, to 10,624 in early trading.
There are only three fallers: oil companies BP and Shell, down by 8.3 per cent and 7.3 per cent respectively, and British Gas owner Centrica, down 3.5 per cent. – The Guardian
Órla Ryan – 59 minutes ago
‘De-escalation is a much more positive economic scenario than ongoing war’ – Tánaiste 
Ministers will meet today to “consider key issues like energy security, supply and key sectoral updates”, Simon Harris said. Photo: Stephen Collins/Collins Photos
Tánaiste and Finance Minister Simon Harris has welcomed the ceasefire announcement, saying it came “following hours of what were extraordinarily worrying and unacceptable threats that are well outside international norms”.
“A temporary ceasefire, with an agreement to reopen the vital Strait of Hormuz, offers a window of opportunity that should be fully utilised to put in place a sustainable and enduring end to the conflict,” Harris said in a statement.
“These developments, from an economic point of view, are positive considering the almost unimaginable alternative. In recent hours we have seen a positive reaction in terms of oil prices though it is extremely early days and this remains a very volatile situation.”
Government leaders and Ministers will meet at Government Buildings today to “consider key issues like energy security, supply and key sectoral updates as well as getting an up to date assessment of what overnight developments mean”, he said.
“The events of the last few hours show the fact that a step by step approach to this fast evolving situation is the only sensible policy path to pursue.”
Harris said de-escalation is “a much more positive economic scenario than ongoing war and further damage to energy infrastructure”.
Delays on M50 and several other roads
Transport Infrastructure Ireland has confirmed traffic delays on several routes including the M50, M18, N3/M3, N4/M4 and the N7.
TII are sharing the latest road updates here.
Luas services impacted by protests in Dublin
⚠️Passengers, please be advised Green Line services are currently not operating between St. Stephen’s Green and Dominick. Services are operating between Broombridge and Dominick and between St. Stephen’s Green and Brides Glen only. This is due to a protest at O’Connell Bridge. We…
— Luas (@Luas) April 8, 2026
Luas Green Line services are currently not operating between St Stephen’s Green and Dominick. Services are operating between Broombridge and Dominick and between St Stephen’s Green and Brides Glen only.
Red Line services are operating normally. Read the latest Luas updates here.
Slow-moving convoys around the country
Significant traffic delays have been reported in several locations across the country as slow-moving convoys take part in a second day of protests against rising fuel costs.
People have been advised to allow extra time for journeys.
Slow-moving convoys and significant traffic delays are currently reported at locations including:
Co. Limerick- N21 from Adare towards Limerick city
Co. Limerick- Ballysimon Road
Co. Cork- Macroom bypass in both directions
Motorists are advised to plan their journeys accordingly pic.twitter.com/m9hgqRm1iZ
— An Garda Síochána (@GardaTraffic) April 8, 2026
Slow-moving convoys and significant traffic delays are currently reported at locations including:
Co. Tipperary- M8 Junctions 6-9 Northbound pic.twitter.com/p3wO5xWryo
— An Garda Síochána (@GardaTraffic) April 8, 2026
‘Very significant disruption’ to traffic in Dublin city
There is “very significant disruption” to traffic in Dublin city centre as fuel protesters have blocked O’Connell Bridge on both the north and south sides.
#DBSvcUpdate Road closures remain in place this morning as a result of a protest. We are experiencing service disruptions across the Dublin Bus network, please allow additional travel time. More details here: https://t.co/7cFT8LLyi2
— dublinbusnews (@dublinbusnews) April 8, 2026
Blake Boland, spokesman for Dublin Bus, said: “Essentially anything that is trying to come across the city is trapped.”
He told RTÉ radio’s Morning Ireland that several routes were impacted, including the E and F spine routes, the 1, 11 and 19 among others. Several diversions are in place.
The latest Dublin Bus updates can be read here.
Traffic Alert – Dublin City Centre
There is ongoing protest activity currently disrupting traffic in Dublin City Centre. O’Connell Street and O’Connell Bridge are at a standstill, and both the North and South Quays are now also affected.
Please plan your journeys accordingly. pic.twitter.com/LUJZn2sG5x
— An Garda Síochána (@GardaTraffic) April 8, 2026
Israel’s military issued repeated urgent warnings to residents of the city of Tyre on Wednesday to evacuate their homes immediately and move north of the Zahrani River, saying it will strike the area.
This comes after Israeli Prime Minister Binyamin Netanyahu said that the US-Iran ceasefire announced earlier on Wednesday does not include Lebanon. – Reuters
Ceasefire ‘will bring moment of relief to region and world’, says Starmer
UK prime minister Keir Starmer has joined a chorus of world leaders welcoming the announcement of a ceasefire between Iran and the US.
“I welcome the ceasefire agreement reached overnight, which will bring a moment of relief to the region and the world,” he said. “Together with our partners we must do all we can to support and sustain this ceasefire, turn it into a lasting agreement and reopen the Strait of Hormuz.”
Starmer is travelling to the Middle East today to meet Gulf leaders to “discuss diplomatic efforts to support and uphold the ceasefire”, No 10 said. – The Guardian
Oil prices plummet after ceasefire announced
Oil prices plunged by almost 15 per cent after Donald Trump held off on his threat to bomb Iran into the stone ages on Tuesday night, and Iran’s foreign minister said passage through the Strait of Hormuz would be allowed for the next two weeks under the management of its military.
Tuesday’s news was immediately embraced by markets, but the outcome of the US-Iran talks is far from certain, and how the strait will be reopened and managed beyond the two-week grace period is yet to be determined.
Brent crude oil, the international standard, dropped 14.4 per cent to $93.48, and futures for US crude oil sank 14.7 per cent to $96.27 a barrel. The prices remain well above where it was at the start of the war.
Japan’s benchmark Nikkei 225 gained 5 per cent in early trading, Australia’s S+P/ASX 200 jumped 2.6 per cent and South Korea’s Kospi soared 5.9 per cent. Elsewhere, Hong Kong’s Hang Seng surged 2.6 per cent, while the Shanghai Composite nudged higher by 1.7 per cent.
Storage tanks are seen at an oil refinery in Yokohama, Japan, as Mount Fuji looms in the background. Photograph: Yuichi Yamazaki/AFP via Getty Images
In the bond market, Treasury yields eased on word of a potential ceasefire. The yield on the 10-year Treasury fell to 4.24 per cent from 4.30 per cent earlier Tuesday. Gold prices rose more than 2 per cent to $4,812 per ounce.
Cryptocurrencies also rallied, with bitcoin advancing 2.9 per cent to $71,327, and ether climbing 5.6 per cent to $2,234. – The Guardian
Trump claims ceasefire is a victory for US
Trump told news agency AFP the ceasefire was a “total and complete victory”.
“Total and complete victory. 100 per cent. No question about it,” Trump said when asked if he was claiming victory with the ceasefire. He later said on Truth Social: “A big day for World Peace! Iran wants it to happen, they’ve had enough! Likewise, so has everyone else!”
Trump said on Truth Social: “A big day for World Peace! Iran wants it to happen, they’ve had enough! Likewise, so has everyone else!”
Iran could start the reconstruction process and the US would help in traffic buildup in the Strait of Hormuz, he added.
The war, now in its sixth week, has claimed more than 5,000 lives in nearly a dozen countries, including more than 1,600 civilians in Iran, according to tallies from government sources and human rights groups. – Reuters
Israel claims ceasefire does not apply to Lebanon
Israel supported the decision to suspend strikes on Iran for the two-week period, prime minister Binyamin Netanyahu’s office said in a statement.
The ceasefire does not apply to Lebanon, it added, in an apparent contradiction to comments from Pakistan’s Sharif who said earlier the agreement included a cessation of Israel’s campaign in Lebanon.
Lebanon’s state news agency NNA reported continued Israeli strikes across southern Lebanon, including artillery shelling and a dawn air strike on a building near a hospital that killed four people. It also reported attacks on several other towns and on a medical point that caused injuries.
It was not immediately clear how soon the ceasefire elsewhere would take full effect. Israeli media said it would begin once Iran reopened the strait and that Israel expected Iranian attacks to continue in the interim.
More than an hour after Trump’s announcement, the Israeli military said it had identified missiles launched from Iran, and explosions from intercepted missiles could be heard in Tel Aviv. Gulf countries including Kuwait, Bahrain, Saudi Arabia and the United Arab Emirates also issued near-simultaneous alerts and activated air defences.
Israeli media said its military was striking back at launch sites in Iran.
Iraq’s Islamic Resistance also said it would suspend operations in Iraq and across the region for two weeks. – Reuters
Ceasefire broadly welcomed by US politicians
US political leaders and many Americans breathed a sigh of relief last night, after Donald Trump announced a provisional ceasefire deal following threats to destroy Iran’s “whole civilization”.
“I’m glad Trump backed off and is desperately searching for any sort of exit ramp from his ridiculous bluster,” Chuck Schumer, the Senate Democratic leader, said on Tuesday night.
Several Republicans cheered the president’s decision.
“Excellent news,” Senator Rick Scott of Florida said. “This is a strong first step toward holding Iran accountable and what happens when you have a leader who puts peace through strength over chaos and weak appeasement policies.”
Senator Lindsey Graham, one of the chamber’s loudest and most aggressive Iran hawks, said on Tuesday evening he shared the hope that “we can end the reign of terror of the Iranian regime through diplomacy”. – The Guardian
Ceasefire conditional on Strait of Hormuz reopening
Trump said the deal was subject to Iran pausing its blockade of oil and gas supplies through the strait, which typically handles about one-fifth of global oil shipments.
Iranian foreign minister Abbas Araqchi said in a statement Tehran would cease counter-attacks and provide safe passage through the waterway, if attacks against it stop. – Reuters
Trump agrees to Iran ceasefire
US president Donald Trump has agreed to a two-week ceasefire with Iran last night, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face devastating attacks on its civilian infrastructure.
Trump’s announcement represented an abrupt turnaround from his extraordinary warning earlier in the day, when he said “a whole civilization will die tonight” if his demands were not met. Pakistan’s military chief field marshal Asim Munir and prime minister Shehbaz Sharif helped mediate the ceasefire.
Sharif said in a post on X he had invited Iranian and US delegations to meet in Islamabad on Friday. – Reuters