Vitol CEO Russell Hardy said ship-to-ship transshipments in the Gulf of Oman are sustaining Middle East exports and warned that without them oil could reach $200/bbl, adding Western inventories have little left to draw on. STS activity has surged in recent weeks; some estimates put flows through the Strait of Hormuz at or above pre-war ~20 mln b/d. Hardy said the energy shock is turning into a shipping crisis: shuttle movements through the Strait are highly inefficient, tying up global tanker ca

On Oct. 8 Weichai Power and Lingong Heavy Machinery signed a strategic cooperation framework during talks between Shandong Heavy Industry Group and Lingong. The pact commits both parties to deepen coordination on conventional and new‑energy powertrain integration, joint product development, shared quality systems and a common global service network, aiming to more tightly integrate construction machinery and power systems and to advance the sector’s smart and green transition in China.

On Oct. 8 President Trump said the US and Iran are engaged in productive talks and that the US will not attack Iran before the Nov. 3 midterm elections. Li Zixin, a Middle East expert at the China Institute of International Studies, said media reporting indicates US operational plans are being readied but enduring constraints — ammunition shortages and a mismatch between military means and strategic objectives — still limit US appetite to restart hostilities. Li said timing is likely to be cautious: a pre-election strike could create a victory narrative and aid Netanyahu ahead of Israeli parliamentary votes, but would also push up oil prices and living costs, increasing political pressure on US and Israeli governments. Large-scale pre-election strikes are judged unlikely, though localized escalation remains possible.