Strait of Hormuz shipping: TankerTrackers says VLCC traffic through Hormuz is showing “signs of recovery,” with bi-directional daytime movement and more crude/LNG/LPG transfers via ship-to-ship operations in the Gulf of Oman. Maritime security dispute: Iran’s IRGC claimed the supertanker EL GAIA exploded after hitting mines near Hormuz, but CENTCOM called the claim FALSE, saying the ship was hit by an Iranian missile and later a drone while off Oman. Regional diplomacy stalled: Oman postponed an Iran–Gulf meeting on Hormuz talks, citing “consensus,” as Gulf states backed out and Houthis escalated attacks. Saudi logistics hit: Saudi Arabia shut its East-West pipeline after drone strikes, with repairs expected in weeks; the outage is feared to remove up to ~4% of global oil supply and push more flows back toward Hormuz. Yemen–Red Sea pressure: Houthis launched fresh missile/drone attacks on Saudi targets, injuring 13 civilians, while claiming new Red Sea island seizures that tighten shipping routes. Energy costs ripple: Oil prices stayed above $105 as supply fears grew; diesel prices and fuel protests in Syria intensified. Broader transport/logistics: Panama Canal plans further transit cuts due to El Niño drought, reducing daily transits from 36 to 32 in September and to ~29.5 from October, adding more friction to global shipping. Finance/transport enablers: The US imposed new sanctions on Russia’s VTB Bank over alleged Iran-linked financial channels, warning foreign institutions of secondary penalties.