In October, attacks on commercial ships, mainly oil tankers, in the Strait of Hormuz reached their highest level since the Iran war began. Despite these attacks, crude oil exports through the strait have remained substantial, averaging 11.1 million barrels per day in October, only slightly down from September. This resilience is due to the shipping industry's adaptation, including a costly shuttle system and reliance on US military protection. However, freight costs have soared, impacting refining margins, and the sustainability of current export levels is uncertain amid geopolitical tensions and upcoming US elections.
The story on tanker resilience amid Iranian attacks offers context for energy market watchers. For readers following the energy sector, here is Pluang's market snapshot as of Oct 30, 2026 23:41 WIB: 51 of 79 priced energy-sector US stocks rose today. Notable movers include Cheniere Energy (LNG) at USD 328.80 with a 3.09% increase and First Solar, Inc. (FSLR) at USD 171.21, down 3.21%.
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