Hormuz tanker hits continue · Kyiv bridges struck · G7 frees diesel stocks

Three theaters stay elevated into Oct 3. Hormuz crude workarounds restored most regional oil flow, but tanker attacks continue and refined-product shipments remain far below normal. Russia escalated against Kyiv’s river bridges after overnight missile-and-drone strikes. G7 agreed a large emergency diesel-and-crude release after U.S. pressure, and Washington stepped back from a diesel export ban.

Middle East: UKMTO reported another outbound Hormuz tanker struck by an unknown projectile on Oct 2 (small fire and blackout; no reported casualties; transit continued). Trackers say at least seven tankers were targeted in about five days. Gulf crude exports are near prewar averages via escorts, ship-to-ship transfers, and pipelines—including Saudi’s east–west restart—while refined-product flows through Hormuz stay a fraction of prewar levels. Higher crude volumes are not a safe open strait.

Ukraine: Early Saturday Russia hit Kyiv with ballistic missiles and drones (at least one killed, two wounded). A jet drone then damaged the Northern Bridge roadway and trolley wires, blocking left-to-right-bank traffic after days of Southern Bridge strikes and other Dnipro crossing restrictions. Mayor Klitschko called the assault “very dramatic.” Winter energy and logistics pressure continues; no ceasefire.

Europe / US energy: G7 agreed a coordinated IEA release of about 100 million barrels of diesel and crude over four months, with a substantial diesel front-load within 20 days. Trump said Europe’s drawdown removes the need for a U.S. diesel export ban; G7 members also pledged not to restrict energy exports among themselves. The EU Energy Union Task Force said diesel supply remains stable for now while prices stay high on global tightness.

For USL readers: keep fuel and winter plans current, watch diesel and shipping costs, avoid panic buys. Stock releases can ease prices short-term; Hormuz product shortfalls and Ukraine infrastructure hits remain the main risks.