Thursday, 15 October 2026

In the Gulf, Houthi missiles damaged Saudi Aramco's headquarters in Dhahran on Tuesday night, and the group says attacks on Saudi airports and oil sites will continue. A Singapore-flagged container ship sank near the Strait of Hormuz after an attack, as Iranian strikes on shipping surge. In the Horn of Africa, Ethiopia accuses Eritrea of a "total invasion" and claims self-defence, while Asmara denies involvement. In Gaza City, an Israeli air strike killed a woman on Wednesday, straining the ceasefire.

US inflation accelerated to 3.7% in September on fuel costs, and markets are betting on further Fed tightening. The International Energy Agency said diesel markets will stay tight well into 2027 because of Gulf supply disruption. China's exports rose 36.3% from a year earlier on AI demand, lifting the nine-month trade surplus to $938 billion. Chip shares extended a global rout, which Bloomberg says was set to erase $1 trillion, even as ASML said on Wednesday that AI demand will exceed supply for two more years.

Less noticed: according to Al Jazeera, former DR Congo president Joseph Kabila has joined the M23 rebels, while a UN envoy sees a "window of opportunity" for peace. Watch Thursday, when EU leaders in Brussels are set to tell the Commission to urgently develop new tools against trade imbalances with China.