Hormuz Ship Attacks Hit Record in October

Attacks on tankers transiting the Strait of Hormuz hit a record 28 in October, the worst month since the US-Israeli war with Iran began in February, according to the Washington Institute for Near East Policy. Eleven supertankers were damaged that month alone, each capable of carrying roughly 2 million barrels of crude, pushing the war's total to 113 attacks. Brent still slipped this week after Trump ruled out striking Iran before Tuesday's midterms, a sign traders are pricing the political calendar over the shipping risk. $USO trades on that bet.