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Tankers defy sharp escalation of Iranian attacks to keep crude oil flowing through Strait of Hormuz, with October attacks doubling but flows only down 2% from September
Commercial ship attacks in the Strait of Hormuz doubled in October compared to September, with at least 30 vessels hit. However, crude oil exports through the strait averaged nearly 11.1 million bpd in October, only about 2% lower than September. This resilience is attributed to soaring freight rates, which provide a significant financial incentive for tankers, and U.S. military protection. Supertanker rates for the Gulf of Oman to Asia route surged from $249,000 per day in early September to $931,000 per day by the first week of October. Crude prices have risen over 13% this month, with Brent crude trading above $117 a barrel on Friday.
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Next: Binance has frozen approximately $3 billion in stolen funds, representing half of the $6.3 billion in crypto assets pilfered by North Korean hackers.
24H Trending
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Samsung Electronics fell 4.31% from its previous close, now trading at ₩222,000.
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Tether, Circle, Ripple, and other stablecoin issuers have frozen over $2.6 billion in assets linked to suspected security breaches at Binance.
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Binance hacker finishes dumping UNI, ENA, PEPE, LINK, AAVE, ONDO, WLD for 70,480 ETH ($158.25M)
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The Nikkei 225 index is down 2.72% from its previous close, currently at 62,903.43.
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Lookonchain: Binance hackers are selling PEPE, UNI, LINK, and other tokens, still holding over $150 million worth of various altcoins.
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Taiwan's TAIEX fell 2.68% from its previous close, currently at 45,125.33.
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South Korea's KOSPI index is down 4.77% from its previous close, currently at 5,654.61.
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SK Hynix is down 5.9% from its previous close, now trading at ₩1,436,000.
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CNBC analysis suggests that Intel's stock may continue to fall after its significant decline, but selling now would not recover losses.
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ETH inter-exchange spread reaches 1.11%
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