Israel’s government signed off on a ceasefire plan with Palestinian militant group Hamas early Friday, marking the start of a phased withdrawal of Israeli troops from Gaza under U.S. President Donald Trump‘s plan to end the two-year war in the region.
Oil prices declined slightly after settling 1.6% lower on Thursday.
The War Has Ended Permanently, Hamas Says
“The government has just now approved the framework for the release of all of the hostages – the living and the deceased,” Israeli Prime Minister Benjamin Netanyahu‘s X account said.
As part of the deal, within 24 hours, Israel’s military must withdraw to a line that will leave it in control of just over 50% of Gaza. Hamas must release 20 living hostages within 72 hours, while Israel will release hundreds of Palestinian detainees.
Hamas Chief Negotiator, Khalil al-Hayya told Al-Jazeera that he had received guarantees from the U.S. and other mediators that “the war has ended permanently.”
“We have also reached an agreement to allow the aid to enter Gaza and open the Rafah crossing from both sides,” al-Hayya said.
Trump Says No One Will Be Forced To Leave Gaza
Trump told reporters at the White House that “no one would be compelled to leave Gaza” for the re-building initiatives.
“No one will be forced to leave, it will be the opposite. This is a great peace plan that was supported by everybody,” the president noted.
In a bid to broker peace between Israel and Hamas, Trump unveiled a 20-point peace plan earlier this month, backed by Netanyahu. The deal received support from Arab and Western countries and was widely portrayed as a major diplomatic achievement for Trump.
The U.S. leader is scheduled to visit the region on Sunday and may attend the signing ceremony of the ceasefire plan in Egypt.
Oil And Gold Down, Markets Close Lower
Oil and gold prices slipped, with Brent Crude futures falling to $64.88 per barrel on Friday at last check. Gold also slipped 2%, dropping below the $4,000/oz mark on Thursday.
The S&P 500 closed 0.28% lower at 6,735.11, while the Nasdaq Composite edged down by 18.75 points to finish Thursday's session at 23,024.62, according to data from Benzinga Pro.
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