Hezbollah leader Naim Qassem has dismissed a US-brokered ceasefire agreement aimed at ending the fighting in Lebanon, which poses a significant challenge to US President Donald Trump's attempts to establish peace with Iran. The ceasefire was a key condition set by Iran for any potential peace deal with the United States. In response to continued Israeli strikes in southern Lebanon, Qassem indicated that Hezbollah was not involved in the negotiations and would not accept the agreement. Meanwhile, Iran's Revolutionary Guards commander insisted that Israel must retreat to its pre-war positions. The situation remains tense, with hostilities escalating not only in Lebanon but also in the Gulf region, where Iranian forces have launched attacks, including one that resulted in casualties at Kuwait's airport. Despite the ongoing violence, global oil prices fell by approximately 3% on hopes for diplomatic resolutions stemming from the ceasefire. However, Iran's oil exports have plummeted, exacerbating global supply issues and impacting food prices worldwide. Trump is under increasing pressure to address rising fuel costs ahead of the November congressional elections, while Iran continues to pursue access to oil revenues and sanctions relief.