Was October The Peak Of Hormuz Ship Attacks? A renewed diplomatic push between the Trump administration and Tehran ahead of the US midterms sent Brent and WTI futures spiraling lower yesterday. The selloff comes despite a record number of commercial ship attacks in the Gulf waters during October .
Rather than choking off crude shipments through Hormuz, Iran's repeated attacks on tankers and cargo ships did quite the opposite, suggesting Tehran's leverage in the maritime chokepoint has somewhat eroded . UniCredit investment strategist Tobias Keller shared a chart with clients earlier today showing last month's record number of ship attacks in Hormuz, which topped 35.
" Maritime security in the Gulf has deteriorated in recent weeks . A record number of attacks on commercial vessels in October is testing the recovery in oil flows and keeping geopolitical risk elevated across the region, suggesting that a return to pre-war market conditions may take longer than previously assumed ," Keller