Prime Minister Keir Starmer has welcomed the ceasefire agreement between the US and Iran, viewing it as a chance to stabilize shipping through the Strait of Hormuz. He is set to travel to the Middle East to discuss diplomatic efforts with Gulf leaders.
The ceasefire, reached overnight, is expected to bring relief to the region. Starmer's upcoming trip to the Middle East will focus on supporting the pause in fighting with Gulf allies. The announcement of the ceasefire has led to a decrease in global oil prices and a rise in stock markets, following weeks of economic instability caused by US-Israeli strikes on Iran and Tehran's retaliatory actions.