It’s not just a diminished Iran and its impact on Hamas that gives hostage families hope. Israeli Prime Minister Benjamin Netanyahu, riding a wave of public support for the Iran war and its achievements, could feel he has more space to move toward ending the war in Gaza, something his far-right governing partners oppose.

Stock markets in the Gulf rose in early trade on Thursday, extending gains from the previous sessions amid rising oil prices as a ceasefire between Israel and Iran appeared to be holding.