Iran ceasefire holds as UAE, Kuwait report explosions; Iranian refinery attacked

Following a recent ceasefire agreement, Iran and regional actors reported military incidents including explosions in the UAE and Kuwait, and an attack on an Iranian oil refinery, suggesting fragile stability in the broader conflict. The ceasefire's immediate viability is uncertain as both sides test boundaries, with celebratory crowds in Tehran contrasting sharply with continued military activity across the region. This directly impacts global oil prices, U.S. Middle East policy, and the Trump administration's claim of brokering negotiations through China's intermediation. Regional tensions remain high despite the formal truce, signaling potential for rapid escalation.