Crude prices slipped on Thursday after Israel and Lebanon agreed to implement a ceasefire, with markets pricing in the possibility that the deal could unlock a broader settlement to end the wider US-Israeli war with Iran and, crucially, reopen the Strait of Hormuz. Brent futures eased towards $96.92 a barrel, while US West Texas Intermediate fell to around $95.24, paring gains accumulated over the previous two sessions when both benchmarks had risen around 2% after a fresh surge in Middle East hostilities, including Iranian drone attacks on Kuwait and US military strikes near the Strait of Hormuz itself.