**Diplomatic efforts between Israel and Lebanon, centered on implementing a US-brokered framework agreement signed earlier in 2026, remain the central driver of trader focus on a potential Netanyahu-Aoun call.** The agreement envisions Israeli withdrawal from parts of southern Lebanon, Lebanese Army deployment, and steps toward ending hostilities, yet progress has stalled over disarmament sequencing, buffer zone issues, and Israeli operations. US President Trump has publicly signaled intent to facilitate direct leader-level contact, including possible White House engagement, while Netanyahu’s cabinet has referenced an upcoming conversation. Lebanese President Aoun has emphasized negotiations as the alternative to conflict and maintained contacts with US officials, but has previously ruled out a direct meeting amid ongoing violations and ahead of Israel’s October 27 elections. Regional diplomacy involving the UN, EU, and Iran continues to shape timelines and conditions for any high-level exchange.