# Oil settles up nearly 5% as Hormuz attacks hit 14 ships: what it means for feed costs

Oil rose nearly 5% as attacks on ships in the Strait of Hormuz reached at least 14 vessels, even with a record 400 million barrel IEA stock release recommended. Higher diesel and freight costs stay in focus for feed producers.

Published 2026-11-02 by the Feedsoft Markets Desk. Covers: BRENT, WTI, DIESEL, OCEANFRT.

Video (29s): https://feedsoft.ai/media/social/2/tiktok-04c2ea1fc2.mp4

## Transcript

- **Oil just jumped nearly 5%** Fresh attacks on ships near the Strait of Hormuz pushed crude up almost 5% at the settle.
- **At least 14 ships hit** Shipping through the strait has nearly stopped since the US and Israel began strikes on Iran on February 28.
- **A fifth of world oil** The disruption removes about a fifth of world oil supply, which keeps crude and diesel costs high.
- **Relief is on the table** The IEA recommended a record 400 million barrel stock release to curb prices. It only partly offsets the lost supply.
- **What it means for feed** Higher diesel and freight costs hit feed producers. Watch your delivered ingredient costs, not just the board price.

Full analysis: https://feedsoft.ai/events/5574-oil-settles-up-nearly-5-as-supply-fears-mount-despite-record-stocks-release

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.