Two projectiles struck the Iranian island of Qeshm on Friday, November 6, while the British maritime agency UKMTO counted at least 11 vessels attacked in the Strait of Hormuz and its immediate surroundings that same week. Brent was on track to close with a weekly drop of 16%, at 97.55 dollars per barrel, according to LSEG figures published by El Economista.
The attacks are part of a series of U.S. bombardments on southern Iran. President Donald Trump described Friday's operation as a minor attack against an air defense system and stated that his government is holding talks with Tehran, in remarks reported by The Guardian. Iranian state media reported two explosions near Suza, on Qeshm, and they were the first bombardments after the November 3 U.S. midterm elections. Iran claimed it shot down an MQ-9 drone with a system it did not identify. For Mexico, the channel is the price of fuel: the country buys gasoline abroad, and the cost of crude sets much of that bill.
The UKMTO report details that of the 11 vessels attacked, three sank, and it has recorded 88 projectile impacts since hostilities resumed in July. During the week, 325 transits through Hormuz were counted, 170 outbound and 155 inbound, about 65% below pre-conflict levels. The Iranian naval force reported that a tanker with its transponder off caught fire in the eastern part of the strait after hitting a mine; Washington maintains that the mines were cleared. Iran maintains seven demands to reopen the passage. Prices had fallen 8% on Wednesday alone, after Democratic gains in the elections, before rebounding on the attacks on vessels, according to El Economista.
The next signal will be the UKMTO weekly report and the progress of Qatar's mediation, which is holding talks with the parties. The gauge is concrete: as long as transits remain 65% below the pre-conflict level, every incident on the water will keep moving the price of the crude that reaches Mexican gas stations.
This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.