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World awaits next steps after Iran ceasefire | ABC News Top Stories

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The world is now awaiting the next steps after the US and Iran announced they had agreed to a two week truce for them to thrash out negotiations to end the war in the Middle East that has caused global economic turmoil.

In what might end up good news for motorists and industries in Australia that rely heavily on fuel, the oil price has sunk dramatically off the back of the ceasefire news. 

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World awaits next steps after Iran ceasefire | ABC News Top Stories

ABC News Top Stories

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Full transcript

ABC News Top StoriesWorld awaits next steps after Iran ceasefire | ABC News Top Stories. Machine-transcribed; use the interactive transcript above to jump the player to any line.

The world's now waiting the next steps up the U.S. and Iran announced that agreed to a two-week truce for them to thrush out negotiations to end the war in the Middle East that's caused global economic turmoil. Iran's foreign affairs minister says the country will allow ships to go through the strait of hormones for the next two weeks under military management, but exactly what that means remains unclear. Iran also says the ceasefire doesn't mean the end of the war and its finger remains on the trigger. U.S. President Donald Trump announced at the 11th hour he was pulling back on threats to bomb civilian infrastructure in Iran after the deal was reached. It might end up good news for motorists and industries in Australia that rely heavily on fuel, the oil prices sunk dramatically on the back of the ceasefire news. Markets have gone up, as investors hope the deal will lead to something more permanent. Members say the big question now is how long it will take for essential goods like fuel

and fertilizer to resume flowing, like they did before the conflict if things don't unravel. Australia's most decorated war veteran, Ben Robertsmith, will remain in jail on charges of murdering five unarmed Afghan nationals who were not taking part in hostilities and were detained. His lawyers made no application for bail during his first court appearance, these criminal charges, and his case has been adjourned until June. For more news at any time, you can follow the ABC Top Stories podcast.

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