War returns to Iran with Israel, US strikes

Islamic Revolutionary Guard Corps (IRGC) spokesperson Hossein Mohebbi says there is “military conflict” in the Strait of Hormuz every day and that Iran has been striking vessels in the waterway with little intervention from the US, Al Jazeera reports.

“We have been hitting small ships and preventing them from passing for a long time, but America does not respond,” Mohebbi says in an interview with the semi-official Fars News Agency.

Crude exports from Gulf oil producers, excluding Iran, have returned to pre-war levels seven months after the closure of the Strait of Hormuz, reaching at least 16.5 million barrels per day in September, Al Jazeera reports citing maritime data firm Kpler.

Kpler says on social media that the recovery has changed regional oil logistics, with around 40 per cent of crude now leaving without crossing the strait, up from 17pc before the war, as Saudi Arabia and the United Arab Emirates make greater use of pipeline routes.

“Of the crude that crossed the Strait of Hormuz in August, more than 70pc changed tankers offshore,” Kpler states. “The volumes have recovered, but through a fundamentally different export system.”

An explosion in the northeastern Iranian city of Mashhad has destroyed a residential building and injured two people, Al Jazeera reports citing Iranian broadcaster IRIB, which cites a local fire department spokesperson.

According to the report, firefighters and emergency responders rushed to the scene and transported the injured to medical facilities. The cause of the explosion is being investigated.

Israeli National Security Minister Itamar Ben Gvir says the brawl between pilots aboard a Flydubai flight bound for Tel Aviv shows that Israel must intensify its military campaigns across the region The Times of Israel reports.

“Thank God and the heroic passengers, but Israel’s security doctrine must be taken to the next level,” Ben Gvir says, adding, “We must not stop and must continue until achieving total victory in Iran, Lebanon, Gaza and Judea and Samaria,” referring to the biblical name for the West Bank.

Iran’s Foreign Minister Abbas Araghchi says that following the UN General Assembly, the country has achieved a higher level of diplomatic prestige, news agency ISNA reports.

“Iran has attained a distinguished position under the new circumstances, with European, Arab, and Asian countries showing strong eagerness to meet and hold discussions. This has created a special level of respect for Iran and the Islamic Republic around the world,” he is quoted as saying.

German inflation accelerated at its fastest pace for nearly three years in September due to higher energy costs triggered by the Middle East war, official data showed, according to AFP.

Consumer prices rose 3.3 per cent in the month from a year earlier, according to preliminary data from statistics agency Destatis. That was the fastest rate since December 2023 and above forecasts of a 3.2pc rise by analysts surveyed by the financial data firm FactSet.

A British maritime agency says that unknown projectiles struck three ships in the Strait of Hormuz the previous day, according to AFP.

A crude oil tanker and two other vessels have “been struck by an unknown projectile”, the United Kingdom Maritime Trade Operations Centre (UKMTO) says.

The sound of an explosion has been heard in Iran’s southeastern city of Zahedan, but no damage has been caused, Reuters reports citing the Fars News Agency, which cites the Zahedan administrative office.

Adviser to Iran’s Islamic Revolutionary Guard Corps (IRGC) Brigadier General Ali Belali tells the Fars news agency that even if the war against the US and Israel continues for years, the country can sustain its missile operations “at the same intensity”.

“In every operation today, Iran’s armed forces fire with power and resolve, in the quantities required, so the enemy is punished and understands that the era of attacking without receiving a response is over,” he tells the news agency.

Oil prices are up and are on track for a big monthly gain as US-Iran talks aimed at ending the war stall and tight fuel markets continue to underpin prices despite recovering Middle East crude supplies, Reuters reports.

The Brent futures November contract, which expires on Wednesday, is up 57 cents, or 0.6 per cent, to $103.16 a barrel as of 0944 GMT (2:44pm PKT). The more active December contract is up 94 cents to $97.10.

US West Texas Intermediate crude was up 82 cents, or 0.9pc, to $90.20.

A crude oil tanker has been struck by an unknown projectile in the Strait of Hormuz, Anadolu reports citing the UK Maritime Trade Operations Centre (UKMTO).

In an advisory, UKMTO says it received a delayed report of an incident that occurred within the strategic waterway on Tuesday.

“A verified source has reported that a crude oil tanker has been struck on the port side by an unknown projectile,” the agency says, without identifying the vessel or providing details on possible casualties, damage or the origin of the projectile.

It adds that authorities are investigating the incident.

Iranian President Masoud Pezeshkian has stressed the special importance of the Strait of Hormuz to regional and global security, according to state-run IRNA.

In a message marking World Maritime Day, he called for a responsible approach based on preserving stability and the interests of regional countries.

Pezeshkian said that sustainable security in the Persian Gulf and its waterways depended on “cooperation and responsibility among regional countries”.

Iranian Navy commander Rear Admiral Shahram Irani has described Iran’s maritime power as a key factor in safeguarding national interests, regional security and the safety of shipping routes, IRNA reports.

He stressed that Iran’s naval power is not intended to threaten other nations or create insecurity, but to help maintain stability and maritime security and deter what he described as adventurism in the region.

Fatemeh Mohajerani, the Iranian government spokesperson, says that Iran’s foreign minister has received the US response to the proposal to open the Strait of Hormuz from the Qatari mediator, Iran’s state-run IRIB reports.

General Talaei-Nik, a spokesperson for the Iranian defence ministry, says Tehran seeks peace while defending its rights, security, and interests, Press TV reports.

He added that recognising Iran’s legitimate rights would pave the way for ending the conflict.

Iran’s Supreme Leader Ayatollah Mojtaba Khamenei says the present situation in Lebanon has brought humiliation “to those who pin their hopes on false promises of hegemonic powers”.

The Supreme Leader made the remark in a post on X.

Oil prices steadied but remained on track for a big monthly gain as US-Iran talks aimed at ending their war stalled, while tight fuel markets continued to underpin prices despite recovering Middle East crude supplies, Reuters reports.

The Brent futures November contract LCOc1 was down 16 cents, or 0.2 per cent to $102.43 a barrel at 0811 GMT (1:11 PM PKT). The more active December contract LCOc2 was down 18 cents to $95.98. US West Texas Intermediate crude CLc1 was up 2 cents to $89.40.

Iranian authorities have said they received the formal US response to their proposal to end the Middle East war days after US President Donald Trump rejected the plan, AFP reports, citing state media.

“At today’s cabinet meeting, the American side’s proposal was presented to President Masoud Pezeshkian by Foreign Minister Abbas Araghchi,” government spokeswoman Fatemeh Mohajerani told the official IRNA news agency.

Russia has extended its ban on diesel exports for fuel producers until the end of October, the government has said, adding further strain to a global energy market already rattled by ongoing conflicts and supply shortages, Reuters reports.

Global fuel shortages and sharp price increases have been in focus, especially in the United States, where diesel prices have shot to records over $6.50 a gallon as the wars in Iran and Ukraine constrain deliveries of fuel, a political risk for US President Donald Trump ahead of the midterm elections.

The price of diesel at the pump in the United Kingdom has hit record highs due to the US-Israeli war on Iran, motoring body RAC said on Monday.

Russia has repeatedly imposed curbs on gasoline and diesel exports to rein in rising fuel prices and tackle shortages triggered by Ukrainian drone attacks on oil refineries.

The Lebanese military has said that an Israeli strike on southern Lebanon wounded a soldier and three civilians, as the implementation of a deal between the two countries has stalled, AFP reports.

“A soldier was seriously wounded as the result of an Israeli targeting of an army vehicle” in Nabatieh al-Fawqa, Lebanon’s army said in a statement, adding that three civilians were also injured.

Lebanon’s state-run National News Agency reported that “an enemy drone attacked Nabatieh al-Fawqa”, a town that has been under repeated Israeli strikes in recent weeks despite a ceasefire between Israel and Hezbollah.

Oil prices rose after US President Donald Trump denied he would be willing to ease sanctions on Iran as Qatar pushed for peace talks, following a fall in the previous session on a recovery in crude supply from the Middle East, reports Reuters.

The Brent futures November contract, which expires on Wednesday, was up 84 cents, or 0.82 per cent, to $103.43 a barrel by 0650 GMT.

The more active December contract rose 19 cents to $87.59. US West Texas Intermediate crude gained 25 cents, or 0.28pc, to $89.63.
Brent is headed for a monthly gain of around 14pc, its biggest climb since July, while WTI is on track for a 4pc rise after having breached $106 for the first time since May.

Iranian Foreign Minister Abbas Araghchi met Qatari mediators in Doha on Tuesday night and received US feedback on a proposed seven-day trust-building plan, which he will discuss in Tehran on Wednesday, an official briefed on the talks told Reuters.

The main disagreement is over the sequencing of the plan, which aims to build trust and return to an enhanced version of a US-Iran memorandum of understanding signed in June, the official said.

Australian inflation accelerated in August as fuel costs surged anew and price pressures remained broadly based, showing no signs of easing despite a run of interest rate increases this year, Reuters reported.

Sticky inflation already forced the Reserve Bank of Australia to lift interest rates to a 15-year high of 4.6 per cent and warn it was ready to hike further if needed. That brought its tightening this year to a full percentage point, far ahead of many other developed economies.

The inflation print was, however, a little less than forecast, with the Australian dollar slipping 0.2pc to $0.6974 and 3-year government bond yields falling 5 basis points to 4.925pc. Swaps pared back the risk of a November move to just 20pc from 35pc before, but a final hike is still fully priced by March next year.

Indian shares are flat as a rebound in most sectors after a two-day selloff was offset by sustained foreign selling, with the absence of a US-Iran peace deal keeping risk sentiment fragile, Reuters reports.

The Nifty 50 falls 0.06 per cent to 22,702.9, while the BSE Sensex adds 0.13pc to 72,605.07, as of 9:20 a.m. IST. The indexes have fallen about 1.8pc each in the last two sessions.

Twelve of the 16 major sectors have advanced. The broader small-caps and mid-caps have added 1pc and 0.9pc, respectively.

Brent crude futures rise 1pc to $103.7 a barrel after US President Donald Trump denied he would be willing to ease sanctions on Iran.