Word came that oil had not grown cheaper. Ambrose: eight tankers attacked in one week, I am uneasy. Pim: tankers, boats full of bathwater! The Toll Keeper: that strait carried a fifth of the world's oil. Prudence: dear oil, dear loans; yields touched five point three four percent, highest since two thousand two.
Oil prices are not falling as expected because at least eight tankers were attacked in the Gulf in one week, in a strait that carried a fifth of the world's oil before the war with Iran began on February 28; analysts say the dearer energy is one reason the ten-year Treasury yield touched 5.34%, its highest since 2002, before easing, and one consultant says the real worry is an expected rise in attacks after the midterm elections.
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Oil Prices Jump on Outburst of Mideast Violence
The New York Times · Oct 11, 2026
