Hormuz attacks raise risk of prolonged shipping disruption
Hormuz shipping attacks approached 45 in October, with an LNG carrier among the vessels hit and analysts warning disruption could last several years. OI Charts data showed short build-ups in ONGC and Reliance Industries futures on 30 Oct.
after close1 source ↓machine-written, see hownot a recommendation
- ONGC close
- ₹225.39
- On the day
- -0.18%
- Futures OI, short build-up
- +1.5%
- Put-call ratio
- 0.68
- Max pain
- ₹230.00
The security crisis around the Strait of Hormuz intensified, with attacks on shipping nearing 45 in October and analysts warning that disruption could last several years. Nakilat confirmed that its LNG carrier Al Mayeda was hit by unidentified objects on Friday evening, while UKMTO reported another vessel strike on Sunday. Iran also said two more tankers had struck mines.
The immediate market impact is concentrated across energy, shipping and gas logistics. Elevated freight rates reflect higher insurance, rerouting and crew-safety costs, while some oil executives have cancelled regional conference plans as the risk to seafarers persists. A prolonged disruption could keep transport costs elevated and complicate the movement of crude, refined products and LNG through one of the world’s most important energy corridors. ⚡
Attacks nearing 45 in October raise the risk that the disruption becomes a sustained operating issue rather than a short-lived shipping shock. The reported strike on an LNG carrier is particularly relevant for gas markets because repeated incidents can affect vessel availability, voyage planning and freight pricing even when cargo flows continue.
OI Charts data for 30 Oct showed a cautious derivatives setup in Indian energy names. ONGC closed at ₹225.39, down 0.2% on the day and 2.0% over 20 sessions; its futures open interest rose 1.5% in a short build-up. Its put-call ratio was 0.68, with the largest call open interest at ₹230 and the largest put open interest at ₹220. The ₹230 max-pain level and the ₹220–₹230 open-interest range are the key near-term levels to monitor, with the next expiry on 23 Nov 2026.
Reliance Industries closed at ₹1,165, down 0.2% on the day and 2.7% over 20 sessions. Futures open interest increased 1.8% in a short build-up, while its put-call ratio stood at 0.66. The largest call open interest was at ₹1,200 and the largest put open interest at ₹1,100; ₹1,200 was also the max-pain level for the 23 Nov 2026 expiry.
The next market signals are further vessel-strike reports, any formal shipping advisories, changes in freight and insurance rates, and evidence of sustained disruption to crude or LNG flows. The duration of the stand-off will determine whether the risk remains a freight-cost issue or develops into a broader energy-supply concern.
Source: Lloyd's List, 02 Nov 2026
Not investment advice. For informational purposes only.