Iran war day 11 update: Diplomatic framework emerging — neutral regional powers and UN brokering ceasefire commitment and Strait of Hormuz reopening. VIX dropped 13.5% on the news. But damage is staggering: 1,700+ killed across region, 175 dead in girls' school bombing (Bellingcat identified Tomahawk fragments), 500 dead in Lebanon, 700k displaced. Tehran air toxic from oil depot strikes. Oil 0-120 range. War and peace competing in real time.