A fragile two-week ceasefire between the US, Israel, and Iran, brokered April 8 and extended multiple times through April 23, remains in effect as President Trump awaits Tehran's unified proposal amid stalled talks in Pakistan. Tensions persist with US naval blockade and seizures in the Strait of Hormuz, countered by Iran's April 22 attacks on three ships, while an Israel-Lebanon truce was prolonged by three weeks. No major airstrikes or missile barrages have occurred since early April, but both sides prepare for potential resumption if diplomacy fails. Traders monitor upcoming proposal deadlines and negotiation outcomes, which could signal de-escalation or renewed escalation in this protracted conflict.