Iran Says Three More Tankers Hit in Hormuz as Brent Rebounds 2.2% to $96.70 After Post-Midterm Drop

Since the U.S. and Israel launched Operation Epic Fury against Iran in February, the Strait of Hormuz has been the war's pressure point. On Thursday, Nov. 5, it flared again. Iranian media reported three oil tankers and a tugboat on fire after hitting mines. The Revolutionary Guards said two tankers struck naval mines and a third caught fire, and claimed the ships were using "unauthorized" routes.

Oil moved with the news. Brent crude, the international benchmark, opened Thursday near $94.62 and rose 2.2% to $96.70. That recovered a chunk of Wednesday's drop of nearly 9%, which followed Tuesday's midterm elections.

Prices are still down more than $20 a barrel from last week. Brent settled at $116.72 last Friday. Brent had closed October at a six-month peak.

AAA put the national average at $4.10 a gallon for regular gasoline and $6.26 for diesel.

Tanker attacks stay near a record pace

The UK Maritime Trade Operations agency said at least five vessels have reported incidents since Sunday. That is about the same rate as October, when the agency said 35 vessels were hit, the most of any month of the war. The agency also reported a vessel struck by two unidentified projectiles late Wednesday.

The Revolutionary Guards do not typically acknowledge firing on merchant ships. They do say the route is unsafe without Tehran's consent.

Saudi Aramco CEO Amin Nasser said on the company's third-quarter earnings call Tuesday that shipments through the strait have not returned to pre-war levels. Ships still wait a long time to transit safely, he said. S&P Global Commodities at Sea data showed October traffic at its highest monthly level since July.

South Korea's defense ministry said Thursday it is sending ships to help secure freedom of passage in Hormuz. It ruled out using troops.

Washington's next move is unsettled

Republicans lost control of Congress on Tuesday. Vice President JD Vance responded Wednesday with a long social media post blaming the war for the defeat. Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked him Thursday. He said Trump was acting like a "losing gambler" and told Vance: "Skip the TED talk. Why not say this to your boss?"

Trump defended the war when asked about Vance's comments. He said it was necessary to keep Iran from getting a nuclear weapon.

A White House adviser told Reuters that some officials and staff viewed Vance's post as a foreign-policy break from the president. Two sources told Reuters they still expect Trump to order renewed hostilities. One was quoted as saying: "He is planning to bomb Iran."

Trump has said he has not decided between major new attacks and a deal. On Monday he posted that an agreement "could happen" and that oil was "dropping like a rock." He also said one or two Iranian nuclear sites still need to be dealt with, including the suspected underground facility at Pickaxe Mountain.

On Nov. 2, U.S. forces struck an Iranian anti-aircraft facility on Qeshm Island. Trump confirmed it Tuesday on Fox News and called it "a minor attack. It wasn't war." Three U.S. officials described the strike as limited and defensive, and one said it followed Iranian fire at a U.S. aircraft.

A U.S. official told The Epoch Times that Trump "has all options available at any time." The official said the U.S. is in a strong position with control of the strait and Iran's economy collapsing.

Iran's account is different. Foreign Ministry spokesman Esmail Baghaei said Tehran will not reopen the strait unless Washington lifts the naval blockade imposed in July. Iran's stated terms for ending the war are an end to the blockade, a halt to fighting on all fronts and sanctions relief. Deputy Foreign Minister Kazem Gharibabadi called the Qeshm strike part of an "ongoing war."

Supreme Leader Ayatollah Mojtaba Khamenei said Wednesday there should be no "inclination towards submission" to the United States. He said Washington would stay hostile whichever party holds power.

Iranian officials have been meeting Qatari mediators since last week. Neither side has announced a breakthrough. A U.S.-Iran memorandum of understanding signed June 17 later collapsed.

Moscow and the Houthis

Mohsen Rezaei, secretary of Iran's Supreme National Security Council, met Vladimir Putin in Moscow on Thursday. Iranian government statements said he carried a message from the supreme leader. Russia's Foreign Ministry, through spokeswoman Maria Zakharova, again advised Russians against all travel to Iran. It cited "the continued risk of a new escalation."

Iran's Foreign Ministry also rejected claims that it materially supports the Houthis. The Houthi fight in Yemen has become one of the war's deadliest fronts.

What comes next

A U.S. official told CBS News that the USS Theodore Roosevelt carrier strike group will make a port call in Singapore on Friday, Nov. 6. It will not reach the Middle East for at least two more weeks.

Two carrier groups are already in the region. Officials say they provide enough firepower for any order Trump gives. It remains unclear whether he will give one, a decision that bears on both Gulf shipping and the oil price.