Global News Oct 4 2026: Hormuz Tension, G7 Oil Release

1. US EXPELS TWO IRANIAN DIPLOMATS
The US expelled two more members of Iran's UN mission in New York, saying they ignored departure orders after the General Assembly; one left Oct 3 and another Oct 4. President Trump said 18 US service members have died in the conflict with Iran. Tehran said it replied to the US proposal, focused on nuclear issues but wants Hormuz discussed.

2. TANKER STRUCK NEAR STRAIT OF HORMUZ
A tanker was struck by an unknown projectile in the Strait of Hormuz, causing a small fire and blackout with no casualties, according to UKMTO. Iraq said it moved 2 million barrels of crude out of Hormuz using a VLCC. Shipping risks remain high, potentially raising insurance and energy costs.

3. G7 TO RELEASE 100 MILLION BARRELS
G7 leaders agreed to release up to 100 million barrels of diesel and other oil products over four months via the IEA, with diesel frontloaded in the first 20 days. President Trump ruled out a US diesel export ban. The move aims to calm fuel prices after Hormuz disruption.

4. HOUTHI, SAUDI CLAIMS CONFLICT OVER RIYADH
Houthi spokesman Yahya Saree claimed an attack on a Riyadh oil facility using ballistic missiles and drones caused a fire; the Yemeni government called the claim false, and the Saudi-led coalition said it intercepted three missiles aimed at Khamis Mushait. In Taiz, more than 70 people died in 24 hours; Maj. Gen. Mohammed Salem al-Khawlani was killed. The parties’ casualty figures remain unverified independently.

5. RUSSIAN STRIKES, IAEA WARNS ON NUCLEAR PLANT
A Russian drone struck a residential building in Kyiv's Darnytskyi district, killing one and injuring two; at least 8 died and 83 were injured across Ukraine in 24 hours. Dmitry Medvedev restated peace terms: Ukraine neutral, non-nuclear, abandoning nationalist policies, recognizing annexed regions; otherwise Russia would use military means. The IAEA warned drone attacks threaten Zaporizhzhia.

6. WEAK US JOBS DATA, POLITICAL FALLOUT
US nonfarm payrolls rose by just 29,000 in September, while unemployment rose to 4.2%. Trump campaigned in Ohio for Jon Husted; Tennessee prisons commissioner Frank Strada resigned after the failed execution of Christa Pike. Weak jobs data may shape debate before the Nov 3 midterms.

7. EUROPE: AFD HITS 30%, FRANCE SCHOOL UNREST
An Insa poll put Germany's AfD at 30% nationally for the first time, while CDU/CSU fell to 18%, a record low. France saw 1,207 high schools disrupted or blocked, more than 100 schools badly damaged, 65 staff and 170 students injured; Spain rejected two housing decrees; eurozone inflation rose to 3.8%, energy 18.8%. Latvia's centrist coalition leads with 35.3% with 80% counted.

8. ISRAEL-PALESTINE TENSIONS, HEALTH CRISIS
Israeli forces raided West Bank areas and settlers attacked students in Huwara and Hebron; 11,409 Israelis entered Al-Aqsa compound from Sept 12 to Oct 1. Gaza health officials said the sector is near collapse, and WHO said supplies wait a median of 74 days for Israeli clearance. A Maariv poll shows opposition parties at 53 seats to Netanyahu's 51; Flydubai suspended Tel Aviv flights after a cockpit incident, and El Al canceled Dubai flights after the UAE withdrew permits.

9. OTHER DEVELOPMENTS
South Korea proposed talks with North Korea after a DMZ mine explosion; Eritrea severed ties with Ethiopia; Canada announced a National Council on AI; the UN allocated $160 million for 12 underfunded crises; OpenAI's safety lead resigned and three researchers were dismissed; Kyrgyzstan launched its first satellite on a SpaceX Falcon 9; a magnitude 5.4 quake struck off Kamchatka. Cuba forecast a 2,070 MW electricity shortfall, and the Dominican Republic will close its embassy in Nicaragua.

Watch today: Energy market reaction and Hormuz developments after the G7 reserve release plan.

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