The Wall Street Journal, citing U.S. officials, reported that America struck Iran's Qeshm Island on Monday and has carried out 'limited strikes' against Iran in recent weeks, a campaign kept low-profile to avoid signalling major escalation. The island, near the Strait of Hormuz, is reportedly used to store anti-ship missiles, mines, drones and attack craft in underground tunnels. Vice President JD Vance said he and President Trump 'really feel good' about reaching a negotiated settlement, though he called Iranians 'unpredictable' and said Trump retains 'kinetic and non-kinetic' options. Vance added that no deadline has been set for a peace deal.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
IrangeopoliticsStrait of Hormuzoil prices
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 11/02/2026 | 3,946.68 |
| Change that session | +1.84% |
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/02/2026 | 3,952.77 |
| Change that session | +1.07% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/02/2026 | 3,938.98 |
| Change that session | +1.16% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/02/2026 | 76,816.00 |
| Change that session | -1.96% |
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/02/2026 | 101.80 |
| Change that session | -0.16% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Trump hints at unprecedented move toward Iran ahead of midterm elections
On November 2 (local time), U.S. President Donald Trump said a deal with Iran was feasible after Tehran disclosed indirect talks with Washington and proposed reopening the Strait of Hormuz under strict conditions, adding that oil prices had fallen nearly $10 a barrel. He nonetheless called Tehran “not very reliable” and said Washington would wait to see whether Iran truly wants a deal. Iranian President Masoud Pezeshkian confirmed that Supreme Leader Mojtaba Khamenei had granted the government certain authority to negotiate an end to the conflict with the U.S., while insisting Iran will not surrender. According to The Wall Street Journal, Iranian missile and drone attacks caused estimated damage of $5-15 billion to military facilities hosting U.S. forces in the Middle East, and satellite imagery shows 274 buildings damaged at 24 sites. Washington is reportedly considering scaling back its military presence in Kuwait and Saudi Arabia.
- Global oil prices fall sharply
World oil prices fell nearly 4% on the afternoon of Nov 2 as Iranian and Qatari officials held talks for a third straight day to advance a deal ending the war. Brent crude dropped 3.2% to $109.8 a barrel and WTI fell 3.6% to $100, after Brent closed October at a six-month high on fears that Middle East conflict would flare up again. The talks come after oil tankers transiting the Strait of Hormuz were recently attacked, pushing up global energy and shipping costs. Analysts said global crude is unlikely to top $120 a barrel because the risk of escalation through year-end is already priced in, and oil flows through Hormuz and alternative routes have recovered to nearly 80% of pre-war levels. OPEC and its allies kept their December output targets unchanged and are unlikely to adjust production until next year.
- Trump Says Only 'One or Two Targets' Left in Iran, Could Be Handled in 10 Minutes
U.S. President Donald Trump said the U.S. military has largely disabled Iran's military capabilities and nuclear program, but one or two sites remain, including the Pickaxe Mountain area, which could be handled within 10 minutes, so the U.S. will not rush into new strikes. Trump said negotiations to end the war that began in February are going smoothly, while Secretary of State Marco Rubio said no decision has been made on new strikes and the U.S. remains open to diplomacy. Tehran warned it would retaliate if attacked, and Supreme Leader Mojtaba Khamenei ordered commanders to update Iran's target list, which includes U.S. and Israeli assets. Qatar and Pakistan are acting as intermediaries, and Vice President JD Vance sent a letter to Mohsen Rezaei, but Iran says it will keep the Strait of Hormuz blockaded until its conditions, including release of frozen assets, are met.
- Despite stalled talks, Trump yet to decide on new Iran strike
On October 31, U.S. Secretary of State Marco Rubio said President Donald Trump has not yet decided whether to strike Iran again, amid reports the U.S. could resume attacks after the November 3 midterm elections. Rubio accused Iran of openly and deliberately targeting commercial vessels, while stressing that Trump prefers a diplomatic solution, and declined to comment on negotiations or give a timeline for a deal. Iranian negotiators are meeting Qatari mediators in Doha; Iranian Foreign Minister Abbas Araghchi said Tehran has reviewed a letter from U.S. Vice President J.D. Vance and called it a “positive step.” According to Reuters, Iranian officials reportedly dislike Qatar's seven-day plan and have proposed their own: the U.S. would lift its blockade of Iranian ports, release frozen assets and approve an Iran-backed shipping arrangement through the Strait of Hormuz. Supreme Leader Mojtaba Khamenei warned the U.S. and Israel not to carry out further attacks and ordered the armed forces to be ready to respond immediately.
- What is happening in the Strait of Hormuz?
Industry experts are questioning ExxonMobil CEO Darren Woods's claim that oil flows through the Strait of Hormuz have almost returned to pre-war levels, at over 80%. According to Kpler, the strait is handling 82% of its former volume, while the wider region, including bypass routes, is shipping more than 24 million barrels per day above pre-war levels. Analysts at the Whisper of Oil Telegram channel say flows rely on tankers sailing in nighttime convoys under naval protection with AIS switched off, plus transfers to super tankers near Fujairah and Sohar. Freight costs have risen 12 times and insurance threefold; Iran treats the strait as closed, the U.S. maintains its blockade of Iranian ports, and Brent holds around $110, its highest since May. The article argues the market is pricing the risk of losing that volume while the war continues with no end in sight.
- Qatari mediators held talks in Tehran aimed at restarting direct U.S.-Iran negotiations, source says
Qatari mediators held more than 12 hours of talks in Tehran on Friday to revive direct U.S.-Iran negotiations and head off renewed American-led attacks after the Nov. 3 midterm elections, with further talks set in Doha. A preliminary June 17 agreement to halt the war, which began Feb. 28, broke down weeks later, and Supreme Leader Mojtaba Khamenei vowed an “immediate, impactful, and geographically unrestricted response” to any threat. In the Strait of Hormuz, a crude tanker was hit by an unknown projectile, Iran said four tankers struck mines, and the Houthis claimed missile strikes on Saudi Arabia. December Brent settled up $2.76, or 2.4%, at $117.64 a barrel, its highest since late April.
Related markets
Latest news
- Gold price today 3/11: Rising again after leaving 3-month low
On the morning of 3/11, SJC, Bảo Tín Mạnh Hải and PNJ bar gold was quoted at 138.2–141.2 million dong per lượng (buy–sell), up 1.2 million dong per lượng. Ring gold rose 700,000 to 1.5 million dong per lượng, the second straight session of gains after leaving a 3-month low. On Kitco, world gold was at 3,945 USD/ounce, up 71 USD from the same time yesterday, supported as crude oil fell more than 4%, easing inflation worries and reinforcing expectations that the Fed does not need to tighten too hard. A weaker USD and US Treasury yields also fuelled bottom-fishing buying, but tensions in the Gulf, persistent inflation and the possibility of further Fed tightening still weigh on the outlook. The article says it is too early to confirm the rebound as a sustained recovery trend.
- Inside FPT's chip testing and packaging plant just put into operation
FPT has put its chip testing and packaging plant into trial operation in Yên Phong II-C Industrial Park, Bắc Ninh. The 1,600 m² facility has 06 production lines and a maximum design capacity of 300 million chips per year. It follows ISO 9001, ISO 14001 and ISO 45001 standards, with cleanroom controls under ISO 14644, and uses automated ATE Testers and Handlers to test and sort chips. In the initial phase it focuses on function, quality and reliability testing for domestic and international semiconductor firms, with a first order from a South Korean partner expected. From December 2026, the plant will also run a pilot program with FPT Polytechnic College to give students hands-on access to real chip testing lines.
- US wants to bring Russian gas back to EU via Ukraine, Moscow immediately says: 'Cannot be done'
The Kremlin said a reported US plan to restore Russian gas flows to Europe via Ukraine cannot be carried out under current conditions, though it did not rule out resumption in the future. According to the Wall Street Journal, Washington wants to revive the route as part of a deal halting attacks on energy infrastructure, with gas sold through a US intermediary to get around European sanctions, and Ukraine would collect transit fees. Transit through Ukraine ended on January 1, 2025, after Kiev did not renew its five-year deal with Moscow. Meanwhile, the EU has rejected large-scale purchases of Russian gas and aims to end imports entirely by end-2027, while regional gas prices have reached their highest level in nearly four years.
- Australia hikes rates to 18-year high to fight inflation
The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.85% on Tuesday, its highest level since November 2008 and in line with Reuters poll expectations. It was the fifth rate hike this year. Consumer prices rose 4.3% in September, up from 4% in August and the highest since March. RBA Governor Michelle Bullock said inflation is “too high”, driven by higher oil prices from the Iran War and stronger domestic spending, and that more hikes could come “if that's what's needed to get inflation down.” GDP grew 2.1% in the June quarter from a year earlier, slowing from 2.5% in March, and Bullock said a recession is “not our base case at the moment.”
- Statement by the Monetary Policy Board: Monetary Policy Decision
The RBA Board raised the cash rate target by 25 basis points to 4.85 per cent, saying inflation remains elevated and broadly based. The inflation outlook was revised materially higher, partly due to fuel and commodity prices affected by the Middle East conflict, with domestic capacity pressures slightly tighter than thought. Inflation is now forecast to stay elevated through much of 2027 and reach the top of the 2–3 per cent target range only in late 2027, about three quarters later than before. The economy is slowing, housing prices have fallen significantly and unemployment has risen. The decision was by majority: six members voted to raise, while three voted to hold at 4.60 per cent.
- Nvidia stock and 2 US growth stocks facing a Treasury yield reset
The article argues that shifts in US Treasury issuance are reshaping growth stock valuations through long-term yields, and profiles three large-cap stocks: Monolithic Power Systems (revenue about US$3.7b, market cap US$59.1b), NVIDIA (sales about US$303b, market cap US$4,941.4b) and Snowflake (revenue about US$5.4b, market cap US$107.9b). Monolithic Power Systems' data center-related exposure approaches roughly 50% of revenue, and management now sets a floor of 130% year-over-year growth in Enterprise Data. NVIDIA is described as an AI engine whose valuation is sensitive to long-term interest rates, while Snowflake recently announced a roughly $6b compute deal with AWS over the next 5 years.
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.