Middle East Market Intelligence Brief: Week Ending October 16, 2026
On Wednesday, two vessels sank near the Strait of Hormuz within 24 hours after being struck by separate projectile strikes. Attacks have intensified over the past 10 days, with Iran citing the US blockade of its ports and tighter sanctions as reasons for escalating strikes.
Amid shipping disruptions and record-high freight costs linked to the Iran war, the Trump administration is considering easing sanctions on shadow-fleet vessels that have transported oil from Russia, Iran, and Venezuela.
However, the potential move is unlikely to significantly increase vessel availability, analysts say. Many ships still face...
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