Daniel Bach

Here's your morning brief for Friday, April 10th.

I'm Daniel Bach for The Wall Street Journal.

The Trump administration is racing to contain Israel's expanding war in Lebanon as the U.S.

prepares for high-stakes talks with Iran this weekend.

Israeli Prime Minister Benjamin Netanyahu said direct negotiations with Lebanon would begin toward a lasting peace and disarming Iran-backed Hezbollah militants.

But he also said Israel would continue striking Lebanon until security is restored in northern Israel.

That message came after a phone call with President Trump yesterday.

A U.S.

official told the journal Trump was concerned that the fighting could undermine the ceasefire and efforts to reopen the Strait of Hormuz.

With the critical waterway still largely blocked, Japan's government plans to release an additional 20 days' worth of oil reserves starting in early May.

Japan relies on the Middle East for more than 90% of its crude oil imports.

And to ease the blow to businesses and consumers, the prime minister said Japan expects to secure more than half of its oil procurement through alternative sources next month.

And we're exclusively reporting that the White House has warned staff about placing bets on the Iran war in futures markets.

The email from the White House management office came the day after President Trump announced a sudden pause in strikes on Iran.

About 15 minutes before Trump posted the news on social media, a flurry of trading activity kicked off, with more than $760 million worth of oil futures contracts changing hands in less than two minutes.

The White House confirmed the warning, but there is no evidence of leaks or that anyone within the administration is using inside information for well-timed bets.

The White House races to contain Israel's deadly war in Lebanon ahead of peace talks with Iran.

Plus, President Trump sends mixed messages about a potential toll on oil tankers in the Strait of Hormuz.

It's affordable for the global economy.

And what's at stake for MAGA in this weekend's election in Hungary?