Iran says three more tankers hit mines in Hormuz; US denies Bahrain radar hit · Houthis claim Riyadh airport strike · Trump, Xi and Putin to meet Thursday

Risk stays high on Saturday, Nov. 14. Attacks on Gulf shipping and oil continue while diplomacy moves on several tracks.

Iran and Hormuz: Iran's navy and Revolutionary Guards say three oil tankers, one a supertanker, struck mines and caught fire early Saturday after using "unauthorized" routes. None is independently confirmed; the US military says it has cleared mines from the main routes. UKMTO says traffic is still about 65% below pre-war levels, and the UN counts 134 shipping incidents and 25 seafarers killed since February. US Central Command denies Iran hit a radar in Bahrain and says it shot down two Iranian drones. Secretary of State Rubio says more US military action is unnecessary.

Saudi Arabia and Yemen: The Houthis claim drone strikes on Riyadh's main airport and an East-West pipeline pumping station, plus missiles at Saudi forces in Jazan. Saudi Arabia has not confirmed. That pipeline carries about 4% of world oil supply around Hormuz.

Diplomacy: Trump, Xi and Putin will meet Thursday in Shenzhen to discuss Iran and nuclear arms; officials expect no deal. Europe will join the next Ukraine-Russia talks, but Putin's territorial demands are unchanged.

Markets and US: Brent settled near $96, down for a second week. A Friday FAA ground stop over air traffic control communications canceled thousands of flights. Big surf hits the West Coast this weekend.

For USL readers: no new action needed. Keep fuel and basics topped off, and stay off beaches and jetties in high surf.