Photo: The Strait of Hormuz seen from space (NASA file image)
NewsFive tankers and a tugboat catch fire in Strait of Hormuz after mine strikes, Iran says
Five oil tankers and a tugboat caught fire in the Strait of Hormuz on 5 November after striking naval mines, Iran's Revolutionary Guards and army said, as a separate tanker was hit by two projectiles off Qatar and oil prices fell on hopes of diplomacy.
Photo: Oil pumpjacks in an oil field
Business & FinanceOil falls more than 4% as hopes of progress in Iran talks ease fears of further supply disruption
Brent crude fell 4.2% to $108.64 a barrel and US crude fell 4.2% to $99.71 on Monday as Qatar-mediated talks on ending the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease.
Photo: An oil refinery
Business & FinanceOPEC+ formally keeps December oil targets steady at about 31 million barrels a day, leaving the hard 2027 call for 29 November
OPEC+ confirmed on Sunday that its seven core producers will hold December output targets at September levels — Saudi Arabia at 10.478 million barrels a day and Russia at 9.949 million — as war disruption keeps most members pumping below target and Brent crude trades above $117 a barrel.
Photo: Oil pumpjacks in an oil field
Business & FinanceOPEC+ agrees in principle to keep December oil output targets steady, sources tell Reuters
Seven core OPEC+ producers have agreed in principle at Sunday's online meeting to leave their December oil output targets unchanged, sources told Reuters, holding policy steady while Gulf exports remain disrupted by the Iran war.
Photo: Oil pumpjacks in an oil field
Business & FinanceOil prices head for fourth straight monthly gain as Hormuz tanker attack sharpens supply fears
Brent crude rose 2.4 percent on Friday to 117.64 dollars a barrel, its highest close since late April, putting oil on course for a fourth consecutive monthly gain as traders brace for escalation in the Iran war.
Photo: Dubai skyline
Business & FinanceUAE shares slip as Dubai index falls for a third session while Brent crude climbs above $117
Dubai's main index dropped 0.8% for a third straight session on weak earnings and regional tensions, while Abu Dhabi edged down 0.1% and Brent crude rose 2.3% to $117.56 a barrel.
Photo: Oil pumpjacks
Business & FinanceOil heads for fourth straight monthly gain as Brent tops $115, while gold slips back below $4,000
Brent crude climbed above $115 a barrel on Friday, on course for a fourth consecutive monthly gain, as tanker attacks and missile interceptions around the Gulf kept supply risks high, while gold slipped back below $4,000 an ounce. Figures checked at about 2:30 pm PKT on Friday, 30 October 2026.