SHIPPING ATTACKS
US Iran war: UAE plans third crude oil pipeline to avoid Strait of Hormuz
The United Arab Emirates is planning to construct a third oil-export pipeline to minimize reliance on the Strait of Hormuz. This new pipeline would connect the western coast of the UAE to the port of Fujairah on the eastern side. Abu Dhabi National Oil Co. is considering this initiative to bolster its oil supply capabilities. The pipeline could also be utilized by third parties, increasing overall efficiency.
MRPL boosts delivered oil buying as Iran war raises shipping risks
Mangalore Refinery and Petrochemicals Ltd plans to increase crude oil purchases on a delivered basis. This strategy aims to reduce shipping risks related to the ongoing Iran war. The company is also looking to diversify its crude sourcing to maintain full refinery capacity. CFO Devendra Kumar expressed hope for annual supply deals with Middle Eastern oil producers. Additionally, MRPL's fuel exports may decline as local consumption is projected to rise.
GRSE shares jump 9% after signing Rs 32,000 crore Indian Navy contract for five next-generation corvettes
GRSE shares surged nearly 9% after securing a Rs 32,000-crore Indian Navy contract to build five Next Generation Corvettes. The nine-year project will strengthen indigenous defence manufacturing, enhance maritime capabilities and reinforce GRSE's warship-building position, adding significantly to its order book and long-term business prospects.
Iran thanks India after airborne commandos recapture pirate-held vessel Azini off Somalia, rescue 20 crew members
Iran has thanked India after Indian Navy commandos recaptured the pirate-held fishing vessel Azini off Somalia and rescued all 20 Iranian crew members in a 48-hour operation. The mission, completed more than 3,000 km from Mumbai, involved an Indian Navy warship, reconnaissance aircraft and support from an IAF C-17 aircraft.
Saudi Aramco Q3 profit jumps 34.5% to $36.25 billion despite ongoing US-Iran conflict
Saudi Aramco reported a 34.5% year-on-year rise in third-quarter net profit to $36.25 billion, beating analyst estimates. Higher oil prices and the exit from a joint venture supported earnings, helping offset production disruptions and security risks amid the US-Iran conflict.
Iran's Khamenei gives Pezeshkian government ‘certain powers’ for US peace talks: Report
Iranian President Masoud Pezeshkian announced the Supreme Leader granted the government powers for talks with the United States. Following foreign ministry comments, Iran indicated communication with Washington via mediators is underway. Reports emerged of secret US strikes on Iranian positions to deter aggression in the region. Iran proposed a two-day plan for reopening the Strait of Hormuz while setting conditions for negotiations.
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Goldman Sachs raises oil price forecasts, warns Brent could hit $140 in 2027
Goldman Sachs raised its oil price forecasts amid mounting geopolitical risks and potential Gulf supply disruptions. The bank warned Brent crude could reach $140 per barrel in 2027 under a prolonged supply shock scenario. Shipping attacks, infrastructure damage and Middle East tensions could sustain elevated oil prices and market volatility.
Oil Price Today (November 2): Crude oil falls to $111 as Iran-Qatar talks continue to end war. What are experts saying?
Crude oil price : Oil prices have plummeted dramatically, impacting Brent and WTI crude significantly. As Iranian and Qatari officials engage in talks to mitigate tensions from the US-Israeli conflict regarding Iran, the situation is further aggravated by security threats and oil tanker assaults in the Strait of Hormuz. Experts warn of ongoing price instability post-US midterm elections, creating an unpredictable environment for global energy supply chains and market responses.
Oil slips more than 1% as talks continue on ending Iran war
Oil prices witnessed a decline of more than 1% as Iranian and Qatari diplomats engaged in discussions regarding the US-Israeli conflict. Brent crude futures fell to $111.84 per barrel, alongside a drop in US West Texas Intermediate crude. Analysts express optimism about potential advancements in these negotiations, which have eased short-term pricing worries.
EAM Jaishankar discusses Ukraine-Russia conflict solutions amid G20 summit
India has engaged in discussions with Russia, Europe, and Ukraine regarding the ongoing conflict and its impact. These talks focused on preventing attacks on civilian shipping and restoring grain exports affected by Black Sea disruptions. External Affairs Minister S. Jaishankar emphasised the complexity of discussions around ceasing attacks on energy installations. Various interpretations of what constitutes energy installations have complicated these discussions.
Qatari LNG tanker attacked in Gulf amid Iran-US conflict, state media reports
A Qatari tanker has been attacked with "unidentified objects" while transiting Gulf waters, the country's state news agency reported Sunday. The attack on Friday evening struck a liquefied natural gas carrier, Al Mayeda, which belongs to the Qatar Gas Transport Company, Qatar News Agency said.
US, Canada see growing interest in limited ceasefire in Black Sea
US Secretary of State Marco Rubio highlighted the growing interest in a limited ceasefire in the Black Sea. He emphasized the importance of facilitating grain shipments while pressing for a broader settlement of the ongoing war. Canadian Foreign Minister Anita Anand confronted Russian Foreign Minister Sergei Lavrov about Russia's invasion of Ukraine during the G20 meeting.
What is NATO’s Article 5, the clause that could pull 32 countries into one war?
An attack on one NATO member could bring 31 other countries into its defence. That is the central promise of Article 5, the collective defence clause of the North Atlantic Treaty Organisation (NATO). The provision has become increasingly important as tensions between Russia and Western countries grow.
Has China achieved a new naval warfare breakthrough? GJ-21 stealth drone reportedly lands on Type 076 warship
China says its stealth GJ-21 drone has completed its first ship-based take-off and landing aboard the Type 076 amphibious assault ship Sichuan. The test could expand the Chinese Navy’s use of unmanned aircraft at sea. Unlike land-based drones, the GJ-21 is designed to operate from a moving naval platform, combining stealth-focused reconnaissance and attack capabilities.
Marshall Islands-flagged LNG carrier with six Indians targeted in Persian Gulf attack; all crew safe
On October 30, an LNG carrier named M/T AL MAYEDA was targeted in a projectile attack. The vessel carried six Indian seafarers along with a crew of 25 members. Fortunately, all crew members, including the Indian nationals, are safe following the incident. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal confirmed the safety of the crew.
Oil prices soar 14% in October to 6-month high as US weighs fresh Iran strikes after midterms. More pain ahead?
Brent crude rose 13.6% in October to settle at a six-month high of $117.64 a barrel, as fears of fresh US strikes on Iran and threats to shipping through the Strait of Hormuz fuelled supply concerns. Analysts warn of further volatility, with Goldman Sachs flagging a possible rise to $120.
Jaishankar has a message for the world: Give diplomacy a chance, as military solutions won't work
External Affairs Minister S Jaishankar stressed the importance of diplomacy to address global challenges at the G20 meeting. He highlighted ongoing conflicts, including the Russia-Ukraine war and tensions in West Asia, while addressing seafarer safety. Jaishankar emphasized the impact of market flooding and supply chain issues on the Global South. US Secretary of State Marco Rubio warned of interconnected economic and geopolitical crises affecting the global economic order.
World War III? A ship sank off Bulgaria after a drone attack. Could the Black Sea crisis pull NATO closer to war?
World War III warning: The sinking of a cargo ship off Bulgaria's Black Sea coast has raised fresh questions about how far the Russia-Ukraine war could spread. Three maritime drones struck the Liberian-flagged container ship Contship Jet on Wednesday, causing the vessel to sink, according to Bulgarian authorities. The incident took place inside Bulgaria's exclusive economic zone, close to NATO territory.
Tanker in Strait of Hormuz hit by explosives attached to small boat, UKMTO says
A tanker in the Strait of Hormuz was hit by a small boat carrying two explosive devices on Thursday, triggering a fire in its engine room and temporarily disabling the vessel, the UK Maritime Trade Operations (UKMTO) said.
Oil Price Today (October 30): Crude oil jumps to $118 as Trump weighs fresh attacks after midterm. What are experts saying?
Crude oil price : Oil prices rose on October 30 amid fears of a potential US military strike against Iran. Crude oil prices have reached a six-month high due to ongoing security risks in the Strait of Hormuz. Uncertainties surrounding the conflict's escalation have led analysts to predict further price increases. Attacks on oil infrastructure in Saudi Arabia are also contributing to market volatility.
The age of pirates isn't over: Modern-day Somali raiders are hijacking oil tankers, holding sailors hostage and demanding millions in ransom
On April 21, 2026, armed men hijacked the Honour 25, a diesel tanker, in a swift attack. The crew was held hostage on board, with a ransom demanded for their release, which created a tense situation. Somali security forces intervened in September to recover the vessel, resulting in tragic consequences. Five crew members lost their lives during the operation, compounding the crisis.
Oil Price Today (October 29): Crude oil dips to $113 as diplomatic talks outweigh infra attacks. Will oil fall further?
Crude oil price : In light of recent diplomatic talks surrounding potential U.S. military engagements with Iran, oil prices have taken a dip. These crude prices remain sensitive to the fluctuating situation marked by ongoing regional conflicts and the threat of further military interventions. Despite Iran's openness to negotiations, escalating hostilities from the Houthi faction targeting Saudi Arabia add to the uncertainty.
22 Indians, including 14 seafarers, killed in West Asia conflict, MEA says
Amidst the turmoil in West Asia, the loss of twenty-two Indian nationals, including 14 seafarers, has come to light, with three fatalities reported in Saudi Arabia per the Ministry of External Affairs. This conflict intensified after US and Israel's aggressive maneuvers against Iran began in February. India emphasizes the necessity of dialogue for peace, as the recent Houthi attacks threaten both regional stability and vital maritime lanes.
Oil Price Today (October 28): Crude oil at $116 as Saudi Arabian refinery comes under attack $120 in sight?
Crude oil price : Oil prices have risen due to an attack on Saudi Arabia's largest oil refinery by Yemen's Houthis. Concerns regarding supply disruptions have intensified amid ongoing conflict in the Middle East. The missile strike and previous Houthi attacks on oil facilities have affected Saudi operations. Analysts project varying future trends for oil prices based on potential disruptions and geopolitical developments. The situation continues to evolve, impacting market expectations and production strategies.
Oil Price Today (October 27): Crude oil below $115 amid peace talk hopes but attacks continue. What are experts saying?
Crude oil price : Oil prices have experienced a decline as diplomatic discussions aimed at easing tensions have taken place. Brent crude futures fell while West Texas Intermediate crude saw a slight drop as well. Ongoing attacks by Iran-aligned groups hinder the prospects of regional stability and heightened concerns about supply disruptions. Analysts anticipate potential supply shocks, which could significantly influence future oil prices.
Aurora lights up the ice as Captain Crozier’s ship waits in the Arctic dark
Captain Crozier finds himself on his ship, Terror, experiencing an ethereal attack by celestial entities. The temperature is plummeting to -50 degrees Fahrenheit, creating a hazardous environment. Thick fog covers the ship, obstructing visibility and creating an eerie atmosphere. The surrounding icefields display vibrant colors in a stunning yet unsettling manner. A nearby ice mountain obscures the view of Terror's sister ship, Erebus, adding to the mystery.
Ship attacks in Strait of Hormuz hit record high in October
Attacks on commercial shipping in the Strait of Hormuz and nearby waterways reached a record high in October, according to a Washington-based think tank. More than 30 supertankers were damaged since the US-Israeli war with Iran began on February 28, threatening oil shipments and adding pressure to global energy markets.
Oil Price Today (October 26): Crude oil at $115, retreats from 6-month high despite lingering concerns. What are experts saying?
US crude futures declined $1.82, or 2%, to $101.48 a barrel, while Brent crude futures dropped $1.50, or 1.72%, to $115 a barrel. Both benchmarks had settled nearly $3 higher on Friday following Houthi attacks in Saudi Arabia that heightened concerns over energy supplies. Brent gained 6% over the week, while US West Texas Intermediate (WTI) rose 2.3%.
On Iran war, Trump weighs two options: 'make a deal' or 'finish it off'
US President Donald Trump is weighing a deal with Iran against renewed military strikes, warning that a decision is approaching as Tehran escalates attacks on shipping near the Strait of Hormuz. Washington is reducing personnel in parts of the Middle East, while upcoming US midterm and Israeli elections add political uncertainty.
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