Tankers ablaze, or not, as war fog thickens

David Llewellyn-Smith

Wednesday 21 October 2026

Latest war headlines.

Two tankers ablaze in Hormuz, says Iran. Not so, says the US.
Talks progress, say US allies. Not so, says Iran.
White House: No attack before midterms but third carrier arrives.
Ukraine attacks Nikolskoye oil pumping and dispatch station.

Dated Brent rose slightly.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.