समाचार Samāchār · World · 3 November 2026

A reported US strike on Qeshm follows Brent’s 7.6% fall. Talks and strikes run together

The Wall Street Journal, citing US officials, says the US hit Iran’s Qeshm Island on Monday. Brent had just settled at $104.77. Trump says a deal could happen. Tehran says contacts continue.

Monday’s story was talks. Tuesday morning brought a strike as well. The Wall Street Journal, citing American officials, reported that the US military struck Iran’s Qeshm Island on Monday. The island sits on the Strait of Hormuz. Iranian state media reported several explosions there. The reports available at 09:00 IST carry no on-record US confirmation. US Central Command did not immediately respond to The National.

The Journal describes this as one of a series of limited strikes in recent weeks, kept quiet so as not to signal a return to the major campaign. US officials called the attacks defensive and aimed at stopping Iranian attacks on commercial ships. News Nation and Fox News, also quoting officials, said it followed Iranian strikes on US assets. The IRGC Navy said separately that it brought down an intact US MQM-170 drone west of the strait on Monday.

Diplomacy ran through the same hours. Asked whether he was considering strikes after Tuesday’s US midterms, President Trump said no. On Truth Social he wrote that Iran wants a settlement as soon as possible and that it could happen. Tehran said contacts with the US continue. Talks with Qatari mediators produced changed proposals but no breakthrough. President Masoud Pezeshkian said Supreme Leader Mojtaba Khamenei has given the government certain authorities for peace talks.

The market had priced the talks. Brent settled on Monday at $104.77, down $8.66 or 7.63%. By 0104 GMT on Tuesday it was $105.25. Tim Waterer of KCM Trade said the report added a degree of risk premium back and flipped the tone.

India pays for this swing in dollars. PPAC data put the crude bill at $90.6 billion for April–September, up 46.3% on nearly flat volumes. Each $1 on a barrel adds up to about $2 billion a year. On that rule Monday’s fall is worth up to about $17 billion a year, if it lasts. Traffic through Hormuz remains sharply reduced. That is the number that has to change.

What a founder takes from it: Oil moved 7.6% in one session and the reason changed by morning. Founders should not plan on the day’s price. India should keep spreading its trade risk and build solar plus storage at home, because neither depends on who is talking to whom in the Gulf.