Iran’s Revolutionary Guard says 2 oil tankers struck mines and caught fire in the Strait of Hormuz, adding another threat to commercial shipping already disrupted by the war. Trump says the conflict will end soon, one way or another, but Tehran is warning that Washington will not decide when the fighting ends. Iranian Foreign Minister Abbas Araghchi says mediators are still working on a proposal to reopen the strait within 2 days. The offer reportedly requires Washington to lift its blockade of Iranian ports and ease oil sanctions. Qatar has also been drawn into the negotiations after an LNG carrier was attacked. Oil prices had climbed above $115 a barrel last week following Houthi attacks and threats to Saudi energy infrastructure, then fell on Monday when hopes for a deal resurfaced. The latest tanker fires show how quickly that optimism can disappear.
https://www.reuters.com/commentary/reuters-open-interest/energy-watch-midterm-mist-2026-11-02/
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