Oct 15 : Oil prices fell more than 1 per cent on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. Brent crude futures fell $1.64, or 1.6 per cent, to $104.42 a barrel by 0337 GMT, while US West Texas Intermediate crude futures were down 98 cents, or 1 per cent, to $94.11, reversing gains from the previous session. WTI rose to a three-week high in the prior session after the Houthis attacked Saudi Aramco's headquarters and Iran said it was deploying new tactics to target ships in the Strait of Hormuz and keep oil prices high. A container ship and a dry bulk carrier both sank near the strait in the past 24 hours after being hit by projectiles in separate incidents, maritime officials said on Wednesday. Attacks around the waterway have surged over the past 10 days, with Iran saying it is stepping up strikes in response to the US blockade of its ports and tougher sanctions introduced last month. With the Iran war having disrupted shipping and driven up freight costs to record highs, the Trump administration is considering easing sanctions on so-called shadow-fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela to help ease prices, a US official said on Wednesday. The new talks centre on the United States potentially allowing "legal oil" to flow on previously sanctioned vessels, the US official said. Increased output from Russia and the Middle East has kept a lid on prices. Russia's crude oil production rose by 65,000 barrels per day in September to 8.43 million bpd but remained down 870,000 bpd year over year, the International Energy Agency said on Wednesday. The IEA also said crude oil exports from Middle East Gulf producers rose by 4.4 million bpd in September to around 75 per cent of prewar levels. "While there is little concrete evidence of a near-term peace deal, oil continues to find its way to buyers through alternative routes and logistical arrangements," said Phillip Nova's head of market insights, Priyanka Sachdeva, in a client note. "These workarounds have helped prevent a more severe supply shock, although they come at a higher cost and leave global flows vulnerable to further disruption." In the US, crude oil and distillate inventories fell, while gasoline stocks rose last week, market sources said on Wednesday, citing data from the American Petroleum Institute. Crude stocks fell by 11.1 million barrels in the week ended October 9, sources said. That was a much bigger draw than analysts polled by Reuters expected. "Despite the sharp inventory draw, oil prices barely reacted. The failure to rise on bullish news suggests investors are cautious about chasing prices higher at current levels," said Haitong Futures in a note on Thursday. Official numbers from the US Energy Information Administration are due at 12 p.m. EDT (1600 GMT), delayed by a day following the Columbus Day holiday on Monday.
Oct 15 : Oil prices fell more than 1 per cent on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels. Brent crude futures fell $1.64, or 1.6 per cent,…
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CNN reported that US officials have developed strike plans potentially incorporating the GBU-43/B against Iranian energy and nuclear targets should President Trump order renewed combat operations. While the report notes this would represent a significant escalation, the same sources indicated that uncertainties remain regarding the weapon's strategic effectiveness.
According to Paul Chichester, Director of Operations at the UK’s National Cyber Security Centre (NCSC), Russian and Chinese state actors, alongside North Korea and Iran, are increasingly employing AI to enhance the scale and persistence of cyber operations against the United Kingdom.
Chichester notes that this shift has transformed cyberattacks into a standard component of state intelligence, with AI augmenting the operational productivity of these threats. Concurrently, the UK is leveraging AI tools to strengthen its defensive capabilities against these evolving challenges.
According to a CNN report, US military planning documents reportedly consider the GBU-43/B MOAB for strikes on Iranian energy infrastructure and nuclear sites, including the Pickaxe Mountain facility, if renewed combat operations are ordered. Officials familiar with the discussions noted uncertainty regarding the weapon's efficacy against deeply underground targets, although the MOAB has previously been deployed by the US military in 2017.
CNN reported on Thursday that the US military has drafted strike plans for Iranian energy and nuclear sites, including the potential use of the GBU-43/B MOAB, should President Trump order a resumption of combat operations. While sources noted that officials doubt the weapon’s effectiveness against deeply buried targets like Pickaxe Mountain, the reports remain unconfirmed by the Pentagon.