Oil flows from the Persian Gulf averaged over 24 million barrels per day in the week ending October 18, above the 23.3 million before the war, thanks to a new shipping system under US protection despite around 30 vessel attacks in October. Flows through Hormuz, including ship-to-ship transfers off Oman, reached about 14 million barrels per day, or 82% of pre-war levels, while Saudi Arabia and the UAE increasingly use pipelines to bypass the strait. Profit incentives are strong: traders can earn about $20 more per barrel reselling Iraqi crude than before the war, and supertanker freight to China has climbed to a near-record $37.37 per barrel. War-risk insurance premiums have risen from under 3% to 10% of vessel value. Brent trades near $108 a barrel, but traders worry the recovery may not hold if the conflict flares again.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Vùng Vịnh bất ngờ báo tin vui cho toàn thế giới
Keywords
oil pricesStrait of Hormuzshippinginsurance
Open a keyword to see other news on the same topic.
Related news
- Oil prices climb as traders assess Middle East developments
Oil prices rose Wednesday as Middle East supply concerns kept markets on edge, after attacks on tankers near the Strait of Hormuz and Saudi energy facilities. Brent gained 1.22% to $110.13 a barrel and U.S. WTI rose 1.11% to $98.92. Iran's Revolutionary Guards said naval mines had prevented three tankers using routes Tehran considered unauthorized and set two violating tankers ablaze. Yemen's Houthis claimed responsibility for strikes on Saudi Aramco facilities in Yanbu, the Shaybah oilfield and airports in Riyadh and Abha. Goldman Sachs said the global average crude freight rate has risen above $20 per barrel from $3 a year earlier, with war-risk premiums for the Strait of Hormuz accounting for about $7 of that increase, and warned higher costs could squeeze Asian refiners' margins and lift refined fuel prices.
- US moves to sell seized Russian 'shadow fleet' oil tankers
The U.S. government will allow sanctioned tankers from Russia's 'shadow fleet' to be sold to investors so they can return to legal shipping, Energy Secretary Chris Wright said at a Citadel Securities event in New York. Buyers will refit idle vessels to carry non-sanctioned oil, and Wright stressed this is a change of ownership and operating status, not simply lifting restrictions. U.S. officials estimate the global shadow fleet includes about 1,600 tankers, and the mechanism could bring dozens or even hundreds of them back into service. The move comes amid an unfinished war with Iran that has nearly shut the Strait of Hormuz, pushing the cost of shipping oil from the Persian Gulf to East Asia more than sixfold above pre-war levels. A KSE Institute study from June 2026 found that 862 shadow fleet tankers have carried Russian oil since early 2023, with 695 still active between May 2025 and May 2026.
- Russian Oil Exports by Arctic Route Jump Amid World Freight Crisis
Russia's oil exports via the Northern Sea Route (NSR) in 2026 have already surpassed last year's total by nearly 50%, with around 20 million barrels shipped to Asia from the start of navigation in July to mid-October, according to traders and data. The Arctic route, long seen as riskier and costlier, has become more attractive as disruptions on routes through the Suez Canal, the Strait of Hormuz and the Black Sea area have pushed tanker freight rates to record highs. Volumes are expected to rise by another 5-10 million barrels by the end of the navigation season, compared with 13 million barrels in the last season. Gazprom Neft plans to increase its NSR shipments by about 35% from 2025, and the newly opened Vostok Oil project is also adding to volumes. LNG supply via the route is also expected to rise after Arctic LNG shipments began.
- Iran plan to open shipping lane still on the table
Iranian Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz remains on the table, although Washington has not addressed all seven conditions, including lifting the US blockade of Iranian ports and sanctions on oil exports. He said that if the US accepted, the strait could reopen within six days, with talks resuming the next day. The main sticking point is Washington's demand that Iran's nuclear programme be addressed from the outset, with Vice President JD Vance calling for a “meaningful” cut in uranium enrichment capacity. Iran's Revolutionary Guards claimed two oil tankers caught fire after hitting naval mines, though this has not been independently confirmed. Maritime officials also reported that a container ship and a dry bulk carrier sank near the strait after being hit by projectiles, and attacks in the area have surged, pushing up global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz is still on the table, while Iran's security chief said talks had stalled over Washington's failure to address all seven conditions. Tehran's conditions include lifting the US blockade of its ports and sanctions on its oil exports, and ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington insists on addressing Iran's nuclear program from the outset, with Vice President JD Vance demanding a "meaningful" cut in uranium enrichment. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines, a claim IRNA reported without independent confirmation, and a container ship and a dry bulk carrier sank after being hit by projectiles. Attacks around the strait have surged over the past two weeks, adding to disruptions that have boosted global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Iran's foreign minister Abbas Araqchi said Tehran's offer to reopen the Strait of Hormuz within seven days remains on the table while it reviews Washington's response. He said that if the US accepts Iran's conditions, including lifting the blockade on its ports, lifting sanctions on oil exports and ending hostilities on all regional fronts, the strait could reopen within six days. Washington insists that Iran's nuclear program be addressed from the outset, and Vice President JD Vance has demanded a 'meaningful' cut in Iran's uranium enrichment capacity to end the eight-month war. Iran's Revolutionary Guards navy said two oil tankers caught fire after hitting mines while crossing the strait, a claim IRNA reported without independent confirmation. A container ship and a dry bulk carrier also sank near the strait after being hit by projectiles in separate incidents, and attacks in the area have surged over the past two weeks.
Related markets
Latest news
- Kingfisher Completes 2026 Drill Program at HWY 37 Project with 13,551 m Drilled, Golden Triangle
Kingfisher Metals has completed its 2026 diamond drill program at the HWY 37 Project in the Golden Triangle of British Columbia, drilling 13,551 m in 24 new holes plus an extension of hole HW-25-011. All nine holes at the Hank porphyry target, roughly 8,070 m in total, intersected the porphyry system or its alteration halo, and the system remains open at depth and along strike. Hole HW-26-028 encountered a 212 m stockwork body of porphyry-style veins, and HW-26-031 showed veins over about 328 m downhole. Six holes in the Upper Hank gold system intersected alteration and epithermal veins at Pits, and regional surface work was also completed. Apart from the partial HW-26-015 result reported earlier, all assays are pending, and the company is planning a roughly 20,000 m drill program for 2027.
- Treasury yields steady as investors await jobless claims, mortgage data
U.S. Treasury yields held steady on Wednesday as investors awaited jobless claims and mortgage data ahead of the Federal Reserve's Oct. 28 rate decision. The 10-year yield was unchanged at 5.1211%, the 2-year at 4.7889%, and the 30-year at 5.4320%. WTI crude rose 0.86% to $98.66 per barrel after fresh missile strikes on tankers in the Strait of Hormuz and Saudi energy facilities raised supply concerns. The 30-year fixed mortgage rate averaged 7.5% in the week ended Oct. 9, and initial jobless claims rose by 1,000 to 199,000 in the week ending Oct. 10.
- Tether leads $15 million funding round for AI-focused payment startup Mural
Tether led a $15 million Series A round in Mural, a New York-based financial infrastructure company founded by former Palantir engineers, bringing its total funding to $28 million. The round also included North Island Ventures and existing investors. Mural provides tools for managing accounts, payments, identity verification and compliance across banks and blockchains, with customers such as Deel and Opera. The deal reflects Tether's push into agentic finance, where AI systems can execute transactions for people and businesses, and Mural lets firms set transaction limits and require approvals for larger payments. Tether CEO Paolo Ardoino said that as agents start moving money, connections to banks and payment networks become essential.
- Cost of living blow for united kingdom households as inflation soars again
UK CPI inflation rose to 3.5 percent in September from 3.1 percent in August, its highest in nearly a year and above the 3.4 percent most economists had expected, according to the Office for National Statistics (ONS). Transport was the biggest contributor, as average petrol and diesel prices hit their highest in four years and diesel reached its highest since July 2022. Airfares, computer games and live events also pushed prices up, partly offset by smaller rises in hotel stays. ONS chief economist Grant Fitzner said the cost of raw materials and factory-gate goods kept rising, driven by higher crude oil and petrol prices.
- China GDP beats forecasts as export boom offsets weak demand
China's third-quarter GDP grew 4.5 percent, beating the 4.4 percent forecast and rebounding from three-year lows, while growth for the first nine months reached 4.6 percent. Booming exports offset weak consumer spending and a prolonged property downturn, and analysts expect China to meet its 4.5 to 5.0 percent 2026 target without additional stimulus. Retail sales lagged industrial output, fixed-asset investment fell 7.2 percent in January to September, and unemployment eased to 5.2 percent in September. Exports rose by more than a third, putting China on track to surpass last year's US$1.2 trillion trade surplus, but economists warn about reliance on exports and weak domestic demand. ANZ flagged trade tensions and geopolitical risks, while Societe Generale's Michelle Lam said a policy shift toward household incomes and consumption is needed; the yuan rose to its highest since July 2022.
- Billionaire Pham Nhat Vuong “drives” Vietnam’s stock market among Asia’s top gainers
The VN-Index gained 46.7 points (+2.76%) to 1,738.67 points, its strongest rise in over half a year, with the Vingroup group contributing nearly 34 points; VIC, VHM and VRE hit the daily limit-up. HoSE liquidity improved markedly, with trading volume above 800 million units and matched value of VND 16,600 billion. Foreign investors net bought VND 193 billion on October 21, ending a streak of 20 consecutive sessions of net selling on HoSE. According to BSC, the 2026 profit growth forecast for the surveyed listed companies was raised to 26%, and 2027 is expected at 12%; BSC sees this as an appropriate time to allocate to stocks for medium- and long-term goals.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.