Here is the morning briefing for October 10, 2026 — the aftermath of Hurricane Isaias in Florida, a second projectile strike on a vessel near the UAE coast, Washington’s move to let Russian diesel reach world markets, and the latest market snapshot.
Hurricane Isaias: Recovery Begins as Gulf Oil Shut-ins Top 70%
Hurricane Isaias made landfall near Destin, Florida, on Friday evening as a Category 2 storm with 105 mph sustained winds — weaker than the feared Category 3. In Tallahassee, crews have reconnected about 20,000 customers, but roughly 7,000 remain without power across 452 outages, while utility Talquin reports around 3,500 customers still dark. The storm is pushing north toward the Tennessee Valley, with tornado and flood risks continuing through Sunday. Offshore, more than 70% of US Gulf crude production is now shut in — the largest Gulf production loss so far — keeping freight and diesel pressure high.
Second Vessel Strike Reported Off the UAE Coast
UK maritime authorities reported a projectile strike that caused a fire aboard a vessel off the UAE coast on Friday — a different vessel from the LPG carrier NV Sunshine struck earlier this week in the incident claimed by Iran’s IRGC over an “unauthorised route.” The new strike adds to the shipping-insurance escalation on the Gulf lanes that connect the region’s oil trade with Asia and Europe.
US Treasury Issues Licence for Russian Diesel Under Trump-Putin Deal
The US Treasury has issued a temporary general licence to allow Russian diesel to reach global markets under the deal agreed between Trump and Putin. Proposed total deliveries could be around 36 million barrels, though Russia has not confirmed the figure. The move comes under the Graham Sanctioning Russia and Iran Act of 2026, signed weeks ago, which authorises tariffs of up to 100% on major importers of Russian energy, including India and China.
Market Snapshot
Bitcoin is holding near $82,500 to $82,600, little changed, while October ETF outflows now total about $986 million combined — $407.4 million from BTC funds and $578.9 million from ETH funds, the eighth straight day of ETH outflows. Brent settled at $104.72 and WTI at $91.85 on Friday; Goldman estimates Brent’s September risk premium at about $22 a barrel, the second-highest monthly reading on record. Gold is trading around $4,186 to $4,194. There are no new China-US or China-UK tariff moves.
Watch: today’s video briefings
Catch up on the day’s headlines with these video briefings from Dawn News: