June 21 1200 UTC Brief

In the Middle East and markets Talks in Switzerland are trying to turn the fragile U.S.-Iran ceasefire into something more durable, with Vice President JD Vance arriving as negotiators face a familiar problem: the war has slowed, but the mess it created is still doing laps. The immediate risk to global energy supplies has eased, with signs that the Strait of Hormuz is reopening, yet analysts say the economic damage from months of conflict will take time to unwind. The agreement is already splitting Republicans ahead of the midterms, with some hailing lower gas prices and a weakened Iranian military, while others question whether the deal actually meets Trump’s stated goals. Meanwhile, the war’s cost to the Pentagon is estimated at about $40 billion, and farmers are seeing some relief as diesel and fertilizer prices ease, even if the broader hit to their finances is already locked in. There is also a warning sign in the background: the war in Lebanon threatens to pull attention away from Iran’s nuclear program just as the talks begin. In the U.S. Police in Crystal Palace have launched a murder investigation after the arrest of a 30-year-old man on suspicion of murder. Officials have not released further details. At the Grand Canyon, visitors are being warned that extreme heat is set to return early next week after a rise in heat-related incidents in the inner canyon, including the deaths of three hikers. The National Weather Service has issued an extreme heat watch. In Britain Disruption from Friday’s train collision in Bedford is expected to continue until Thursday, with police saying 28 people are still in hospital. Rail services are likely to remain affected for several more days while the fallout is sorted out.