

STATE OF THE STRAITWeek Ending Monday, November 2, 2026
THE PRICE OF PEACE. THE COST OF WAR. Oil prices plunge on diplomatic expectations while tankers continue to burn, Black Sea shipping comes under attack, and the world's emergency energy reserves approach a dangerous threshold. The Week at a Glance The most important development in maritime energy markets this week was not a successful reopening of the Strait of Hormuz, a restoration of tanker traffic, or a meaningful reduction in attacks against commercial vessels. It was a c











