ADNOC dismisses as speculative a report of a third Hormuz-bypass line for other producers
ADNOC denied a Bloomberg report that it was weighing a third Hormuz-bypass pipeline for other producers, calling the story inaccurate and speculative.
US officials reportedly say a strike on Iran could begin Wednesday after midterms, with three carriers and moonless conditions.
Oil prices have dropped this week, but there is a plausible case that Trump is attempting to send misleading signals to keep crude costs low before the election.
Behind closed doors, the US military has been positioning itself to be ready to strike immediately after the midterm elections. According to US officials cited by The New York Times, the Pentagon could restart major combat operations against Iran as soon as Wednesday.
Two factors explain why the US might initiate the brief and forceful campaign that Trump has hinted at. The first factor is that three US aircraft carriers are currently in the region, but one must depart in early November.
USS George H.W. Bush— Already active in the area.
USS George Washington — Shifted from the Pacific to the Middle East.
USS Theodore Roosevelt — Sent from San Diego in late September to reinforce US forces.
The USS George Washington is likely the carrier that needs to leave, heading back to its usual area near Japan.
Second, early November also brings moonless nights, the kind of darkness the US military generally likes for its attacks, the report states.
The NYT reports:
U.S. Central Command has a plan to strike Iran beginning as early as Wednesday, after the U.S. midterm elections and when three aircraft carriers are in the region, according to U.S. officials.
The ideal conditions for the type of campaign the military has laid out will last only a short time. After early November, one of the aircraft carriers will need to return to its home port. Early November is also a period of moonless nights, the kind of deep darkness the U.S. military likes to use for its attacks.
Regardless, Wednesday is expected to be a turbulent day.
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ADNOC denied a Bloomberg report that it was weighing a third Hormuz-bypass pipeline for other producers, calling the story inaccurate and speculative.
Citi forecasts gold at $5,000 if Strait of Hormuz reopens and lower oil triggers Fed rate cuts.
Copper fell to a three-month low as AI stock rout and reduced tariff expectations pressured prices.
Markets are pricing in an end to the Iran war: WTI fell $7.69 to $88.39. Hurdles to a deal remain, but reports suggest an agreement may be on the table.