Israel and Hamas have reached a ceasefire agreement, Hillary Clinton and Egyptian Foreign Minister Mohammed Kamel announced in Cairo today. The ceasefire will begin at 9pm local time (2pm ET). Earlier, an Israeli source told Reuters that Israel had agreed to a truce, but would not lift its blockade of Gaza.

Clinton praised the agreement and Egypt's role in the negotiations. She promised that the US would "work with partners across the region to consolidate this progress," adding that "there is no substitute for a just and lasting peace."

Israel has agreed to stop all "assassinations" of Hamas officials and "incursions" into Gaza, an Egyptian source tells Reuters, adding that the deal comes with Egyptian "guarantees." Benjamin Netanyahu released a statement saying that he'd agreed to President Obama's recommendation that he give a ceasefire a chance, but warned that "more forceful action" might be needed if it doesn't work. The deal follows a day of Israeli strikes that saw the death toll in the conflict rise to 149, Al Jazeera reports.