UN Maritime Agency Initiates Plan To Clear Hormuz Traffic: Hundreds Of Vessels, 11K Sailors

US-Iran Fighting Enters 10th Day As Tanker Hit In Hormuz, Houthis Threaten Red Sea Chokepoint The tit-for-tat escalation between the US and Iran entered its tenth day as another tanker was struck in the Strait of Hormuz. Meanwhile, the Iran-backed Houthis threatened shipping at a second strategic chokepoint in the southern Red Sea. US Central Command launched strikes targeting Iranian command and control centers, missile and drone launch sites, and air defenses to "further degrade Iranian military capabilities used to attack commercial shipping in the Strait of Hormuz." President Trump wrote on...

Aramco Cuts Asia Oil Prices To Six-Year Low, Warns Global Oil Supply Buffer "Scarily Thin" Saudi Aramco has raised oil prices for European-bound cargoes in November but has cut prices for Asian buyers to the lowest in six years as Persian Gulf producers race for market share with flows through the Strait of Hormuz increasing.  The state-owned firm will offer Arab Light crude to buyers in Asia to $5 a barrel less than the Dubai/Oman benchmark for November, according to Bloomberg citing a list from the producer. That compared with a discount of...