Good morning. The biggest story breaking overnight is the surprise two-week ceasefire between the US and Iran that will reopen the Strait of Hormuz for safe passage. This comes just hours before Trump's Tuesday evening deadline for what he called attacks that could threaten "a whole civilisation." Oil prices have tumbled and global markets are surging on the news, though analysts are calling this only a partial win for Trump that may have fundamentally altered how the world views American foreign policy. Pakistan played a crucial behind-the-scenes role in brokering the fragile truce.
In other developments, Prime Minister Starmer has blocked Kanye West from entering the UK for July's Wireless Festival, stating the controversial rapper "should never have been invited" in the first place. Meanwhile, Arsenal got back on track with their super subs rescuing another victory over Sporting, while Harry Kane and Trent Alexander-Arnold put on a show as Bayern beat Real Madrid. The performance won't ease concerns about Alexander-Arnold ahead of Thomas Tuchel's England tenure, but it highlighted Kane's continued sharp form.