Amid rhetoric, market uncertainty and tit-for-tat exchanges, the two sides are still trying to find a way out of the impasse

Great news! Donald Trump has said the US and Iran are on the verge of a peace agreement. Oil prices are down, and the stock market is up. This comes only hours after Trump warned Iran was about to be struck “VERY HARD”, a threat that had sent oil prices up and stocks down.

It has been another ride on the Trump rollercoaster, keeping traders on edge, most of the world poorer, and people of the Middle East constantly whiplashing between fear and hope. But whether the ride veers up or down, the management always makes money.

Recent exchange of missiles between Iran and Israel highlights diverging views between US president and Israeli PM

The latest eruption of hostilities between Iran and Israel appears to have been contained for now after Donald Trump insisted he called “all the shots” in the Middle East, but in a dangerously fragile region Benjamin Netanyahu has again shown he is ready to take shots of his own.

The exchange of missiles on Sunday and Monday was ample demonstration of the inherent instability of the current limbo between war and peace, but it also shone a bright light on the complex and conflicted relationship between the US president and the Israeli prime minister, frenemies who could determine the fate of the current ceasefire.