Ongoing deadlock over sequencing has stalled Phase II of the US-brokered Gaza ceasefire plan one year after the October 2025 agreement. Hamas endorsed a July 2026 roadmap for phased disarmament tied to Israeli withdrawals, new Palestinian administration under the National Committee for the Administration of Gaza, and deployment of an International Stabilization Force, yet Prime Minister Netanyahu rejected simultaneous steps and demanded full demilitarization first. Sporadic Israeli strikes have continued, while reconstruction and governance transition remain frozen ahead of Israel's October 27 elections. Traders appear to weigh these entrenched positions and verification disputes against any post-election momentum for renewed mediation.
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