Here is the latest world news digest for Monday, October 5 — from the Yemen–Houthi escalation and tanker attacks in the Strait of Hormuz to a bullish new Bitcoin call from Citigroup, plus the overnight market snapshot.
Yemen government launches major offensive against Houthis
Yemen’s Saudi-backed government announced on Sunday a major military operation to retake territory from the Iran-aligned Houthis, a ground offensive expected to have Saudi air support. In response, the Houthis claimed they launched missiles and drones at Saudi Aramco facilities in Riyadh and Khurais. With the Strait of Hormuz and Bab el-Mandeb now under pressure simultaneously, freight and oil cost pressure builds on China–UK and China–USA trade routes.
Seven vessels attacked near the narrowest part of Hormuz in a week
The Wall Street Journal reported that seven vessels were attacked near the narrowest part of the Strait of Hormuz in the past week, including repeat shuttle runners Al Funtas and Kazimah III. A US official said Iran’s ship-targeting ability has improved in recent weeks; Washington had said weeks ago it would strike Iranian oil tankers but backed off after Iran’s missile wave at a US air base in Jordan. Capital Economics expects Brent to average around $100 through year-end — it settled Friday at $102.25, up about 5% on the week — as freight and security costs stay elevated.
Citigroup raises Bitcoin target to $113,000, Ethereum to $3,028
Citigroup raised its 12-month Bitcoin target to $113,000 from $82,000 and its Ethereum target to $3,028 from $2,240, citing stronger market activity, a supportive macro backdrop, and resuming spot ETF inflows. US spot Bitcoin ETFs drew about $6.34 billion in the third quarter — roughly $2.65 billion in September alone. Bitcoin was trading around $84,700 on Sunday in an $82,000–$86,000 range; a confirmed break above $88,000 could open a push toward $90,000–$96,000.
Markets: quiet night, key events still to come
Overnight trading was quiet: Bitcoin held around $84,900–$85,000 and Ethereum near $2,700, with no new crypto institutional or regulatory moves. At the last check (00:54 PKT), two political events were still pending: Brazil’s first-round presidential results, expected after around 1:00 AM PKT Monday, and the 6 PM ET (3:00 AM PKT Monday) deadline for Hamas to answer the 20-point Gaza plan — with no new moves from either side in the preceding hours. On trade, there were no new China–UK/USA tariff moves; searches only recirculated the September 28 $60 billion Board-of-Trade lists.
Market snapshot
Bitcoin ~$84.9–85k, Ethereum ~$2,700, both little changed. Brent crude ~$102 on Friday’s settle, with physical markets exceptionally tight and diesel and gasoline prices near record highs — the next OPEC+ meeting, on November 1, will set December production levels.