US and Israel reportedly prepare a week of post-midterm strikes on Iran · IRGC says three tankers hit mines in Hormuz · Houthi missile at Saudi east intercepted

Risk stays high on Thursday, Oct 29. Diplomacy is still moving, but planning for renewed strikes on Iran after the Nov. 3 midterms is now widely reported.

Middle East: Axios reports the U.S. and Israel are preparing for a possible week of major strikes on Iran after the midterms if talks fail, and the AP says U.S. officials have warned regional allies to prepare. President Trump confirmed he approved Vice President Vance's contact with Tehran but said it concerned medical supplies, not peace talks. Iran called Qatar's latest ideas "unacceptable" but says it remains in close contact with mediators.

Strait of Hormuz: Iran's Revolutionary Guards say three tankers hit sea mines and caught fire while trying to leave by a southern route Iran calls unauthorized; UK maritime authorities logged a vessel on fire near Khasab, Oman. Iran's army says the strait stays closed until its conditions are met.

Saudi Arabia/Yemen: The Saudi-led coalition says it intercepted a Houthi ballistic missile aimed at the Eastern Province early Thursday, with alerts in the Eastern Province and Najran later lifted. No damage was reported.

Ukraine/Russia: Russia launched 112 drones overnight; 97 were downed. Strikes hit several districts of Kharkiv, including an educational facility, and a drone attack on a business in Rivne region killed one man.

Energy: Brent eased about 1% to roughly $114 a barrel and WTI to about $101 on hopes of renewed talks.

For USL readers: no new action needed. Keep fuel topped off, expect price swings around the election, and check State Department advisories before any Middle East travel.