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The brief · Saturday, 24 October 2026

Hormuz attacks reach monthly high as UAE oil spill and oil price rise unsettle shipping

  1. 01Safety & incidents

    Hormuz attacks peak as UAE reports large oil spill

    A Washington-based think tank says October is the worst month yet for attacks on merchant ships in and around the Strait of Hormuz. Iranian state TV said seven tankers were struck in one night. The UAE confirmed a spreading spill off the Khor Al Beidah peninsula that has closed local beaches. Iran also warned that Gulf subsea cables would be targets if war resumes.

  2. 02Fuel & energy

    Brent climbs on Middle East supply fears

    Oil prices rose on Friday after Houthi attacks in Saudi Arabia and the UAE spill raised concern about Gulf supplies. Outlets differ on the benchmark: one says Brent hit its highest level since early May, while another says prices were the highest since late April.

  3. 03Safety & incidents

    Drone strike sinks cargo ship off Romania

    The Comoros-flagged cargo ship Khoryv sank off Constanța after a drone strike. One seafarer died and three are missing while a search continues. Romanian President Nicusor Dan accused Russia of escalating attacks on NATO's eastern flank.

  4. 04Markets & finance

    Tanker costs squeeze US crude exports to Asia

    Chartering a tanker for the Pacific voyage has hit a record of almost $80 million, and US crude exports to Asia are heading for a seven-year low. India's HPCL is changing how it buys crude as freight soars. Affinity, however, reported a sharp downward correction in VLCC rates this week on thin activity.

  5. 05Regulation & policy

    First Russian diesel cargo heads for the US

    A Greek tanker sailed on 23 October with the first Russian diesel cargo bound for the US under a deal between Moscow and President Trump, following a sanctions waiver. Ship-tracking reports put one cargo on course for New York. Another report says a tanker is due in Norfolk, Virginia on 2 November, ahead of the New York-bound vessel.

  6. 06

    HD Hyundai and Kiewit plan new US Gulf Coast yard

    HD Hyundai has agreed a joint venture with Kiewit to build a new shipyard on the US Gulf Coast. Construction is due to start next year, with operations expected in 2029 and about 3,000 jobs created. The plan marks a move from investing in existing US yards to building new capacity.

  7. 07Markets & finance

    BDI slips but Greek owners return to bulker orders

    The Baltic Dry Index fell 1.2% to 2,660 points on Friday, ending a four-day rise but still posting a second weekly gain. Greece's Pavimar has ordered four Kamsarmaxes in China, its first order in a decade. Panos Laskaridis's Lavinia Bulkers is linked to four Chinese-built newcastlemaxes worth around $312m.

Written by AI (Claude) at 09:52 Cyprus time from 120 headlines and their outlets’ own summaries. It can get things wrong — read the original articles before you rely on anything here.

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