Israel and Iran appeared to de-escalate after exchanging fire for the first time since a prior ceasefire, though both warned of retaliation if provoked. Renewed hostilities sparked fears of a wider Middle East conflict.

Israel and Iran appeared to back away from further strikes on Monday, hours after they traded fire for the first time since the US agreed to a ceasefire with Tehran two months ago. Both countries warned that they were ready to launch retaliatory attacks if provoked. The renewed hostilities raised concerns that the Middle East could plunge back into a full-scale war. Since the US and Israel began striking Iran on February 28, the war has shaken the global economy, driven up energy prices around.....