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Israel has backed the U-S and Iran's two week conditional ceasefire, but says the plan does not include Lebanon.
Global oil prices have fallen sharply with Brent crude oil hitting its lowest price in almost a month.
Victoria Cross recipient Ben Roberts-Smith will remain in custody after his first hearing in a Sydney bail court on allegations of war crimes.
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Iran says it will allow ships safe passage through the crucial shipping lane the Strait of Hormuz, after an 11th hour ceasefire agreement with the US.

US President Donald Trump's threats to pull the US out of NATO are gaining momentum as he lashes out at NATO members for their lack of support with his war in Iran. So what is NATO, and what will it mean for Australia if the US departs the alliance?

The world is now awaiting the next steps after the US and Iran announced they had agreed to a two week truce for them to thrash out negotiations to end the war in the Middle East that has caused global economic turmoil.
In what might end up good news for motorists and industries in Australia that rely heavily on fuel, the oil price has sunk dramatically off the back of the ceasefire news. 
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The US and Iran say a deal has been reached to de-escalate the war that is causing economic chaos across the world.
War veteran Ben Roberts-Smith will remain in custody after his lawyers made no application for bail and a court adjourned his criminal case until June.  
The 47-year-old was charged yesterday with five counts of the war crime of murder, related to his time in Afghanistan between 2009 and 2012.
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