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Iran Targets Global Oil Shipping to Drive Up Energy Prices Before US Midterms
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Firstpost•14-10-2026, 06:42
Iran Targets Global Oil Shipping to Drive Up Energy Prices Before US Midterms
- •Iran is expanding attacks on commercial shipping beyond the Strait of Hormuz into waters near Qatar and the United Arab Emirates to keep global energy prices high ahead of US midterm elections.
- •Iranian officials stated that the strategy aims to frustrate US attempts to stabilize energy markets and increase economic pressure by raising fuel costs for American voters.
- •On October 11 alone, six commercial ships were reported hit, contributing to a total of 24 vessel attacks in the preceding two weeks.
- •Oil shipments through the Strait of Hormuz dropped sharply to 2.9 million barrels per day on October 11, down from a peak of 15.5 million barrels per day in September.
- •The disruption has driven Brent crude prices higher, sparking concerns that rising petrol costs will create significant political challenges for the Trump administration.
Key Questions Answered
Iranian officials stated that the expanded attacks are intended to keep global energy prices high and pressure Donald Trump's administration ahead of the US midterm elections in November.
Six commercial ships were reported hit in a single day on October 11, consisting of five tankers and one container ship.
According to the EIA, pipelines in Saudi Arabia and the UAE can together provide about 4.7 million barrels per day of capacity to bypass the strait, though they cannot replace its full volume.
