US and Iran trade strikes on oil tankers near Hormuz
The US and Iran exchanged attacks on oil tankers over the weekend, intensifying pressure on energy flows through the Strait of Hormuz. OPEC+ kept October oil production quotas unchanged, pausing nominal increases amid threats to shipments.
The US and Iran traded strikes on oil tankers over the weekend, adding to pressure on energy flows through the Strait of Hormuz. As Washington steps up its campaign to obstruct Tehran’s oil exports, the US struck Iranian tankers on Saturday, while Iran hit back by targeting US-linked vessels and three oil tankers. OPEC+ left oil production quotas unchanged for October on Sunday, pausing months of nominal increases as threats to energy shipments mount.
A Rystad Energy analyst told Reuters the group’s ability to influence prices is limited by the number of barrels that can physically reach the market, and said the focus now shifts away from monthly production adjustments toward the more consequential debate over 2027 output baselines.