Middle East Tensions Drive Global Tanker Rates to Record Highs Amid Inflation Fears

At a White House press conference, when Trump was asked why he would delay action against Iran until after the midterm elections rather than act immediately, Trump said it was “possible” to act immediately. Earlier on Thursday, Trump had just made clear that the US “will not attack Iran before the midterm elections,” and said the current negotiations with Iran were “productive.”

Iran attacked an LPG carrier in the Strait of Hormuz, and Houthi forces laid mines in the Bab el-Mandeb Strait, putting the world’s two critical energy shipping corridors under pressure simultaneously.According to Xinhua News Agency, the navy of Iran’s Islamic Revolutionary Guard Corps said in a statement on the 9th that future actions against violating vessels will not be limited to the Strait of Hormuz. Any ship navigating through unauthorized routes without permission will face “severe punishment.”The statement said that in the past few hours, the navy struck a “large” vessel carrying liquefied petroleum gas that attempted to cross the strait via an “illegal” route.

Cobre Panama said on social media that production facilities and infrastructure remained stable after the earthquake.According to Xinhua News Agency, an earthquake above magnitude 7 struck Panama at noon local time on October 9, followed by dozens of aftershocks within hours.Cobre Panama is the largest open-pit copper mine in Central America, located on Panama's Caribbean side and operated by a subsidiary of Canada's First Quantum Minerals. With an investment of over $10 billion, it produces approximately 300,000 to 350,000 mt of copper concentrates annually.