Morning Edition · Tuesday, October 27, 2026BREAKINGUpdatedPublished at 2:10 AM EDT · New York
The Makkah pact talks in Tehran follow 28 attacks on shipping in October and an Iranian claim, rejected by Trump and only partly confirmed, that seven tankers were hit in one night. Brent fell below $115.
Updated at 2:10 AM EDT
Added the record October attack count, UKMTO's October 26 report of a disabled tanker, and Iran's October 22 claim of seven tankers hit, which UKMTO only partly confirmed and Trump called fabricated.
Saudi Arabia, Pakistan and Turkey sent their security chiefs to Tehran to press for the reopening of the Strait of Hormuz after the highest monthly number of attacks on shipping in the waterway that the Washington Institute for Near East Policy has recorded. The institute counted 28 confirmed and reported attacks in and around the strait in October, and 113 since the US-Israeli war with Iran began on February 28. On Monday, October 26, the United Kingdom Maritime Trade Operations (UKMTO) center issued a verified but delayed report that a projectile had struck and disabled an outbound tanker in the strait on October 23. UKMTO said the crew was safe.
The scale of the attacks is disputed. On Thursday, October 22, Iranian state television cited the navy of the Islamic Revolutionary Guard Corps (IRGC) and said seven tankers had been damaged overnight. According to the IRGC, four tankers caught fire after an attack while they transferred oil, and three hit naval mines. The Associated Press said seven would possibly be the largest number of ships damaged in a single day since the war began, but it could not confirm the claim. UKMTO logged only two attacks in that period, on the Kuwait-flagged Al Dasma and the Liberia-flagged Soyia. President Donald Trump rejected the Iranian reports and accused Tehran of inventing incidents to raise oil prices before the US midterm elections in November. He said more oil now moves through the strait than before the conflict. Iran warned that US bases in the region could be targeted if American forces continue to help commercial ships pass through the strait.
In Tehran, Saudi Defense Minister Khalid bin Salman, Pakistani army chief Asim Munir and Turkish intelligence chief Ibrahim Kalin held talks with President Masoud Pezeshkian and senior Iranian security officials. Dawn reports that the three states, which signed a mutual defense arrangement known as the Makkah pact, brought an agenda that included halting Houthi attacks and reopening the strait. Pezeshkian backed an understanding "to strengthen unity among Muslim nations." Riyadh said the visit aimed to support existing Qatari and Pakistani mediation. The meeting followed an increase in Houthi attacks on Saudi Arabia and renewed warnings of military action between Tehran and Washington. According to Geo News, the parties agreed to continue the dialogue. Munir had proposed the format during a visit to Tehran the previous week.
Iranian state media presented the visit as a test of the Gulf states' intentions. A former Iranian ambassador to Lebanon and Kuwait told IRNA that the trilateral trip was important but that any durable regional security structure "first requires genuine and mutual good faith" from the parties. BBC News Hindi asks why Tehran accepts Pakistani mediation at all. Pakistan has been a close partner of both Washington and Riyadh since its founding, yet Iran has accepted Islamabad as an intermediary and has voiced no public distrust. Pakistan shares a long border with Iran and needs calm on it, and it also has security obligations to Saudi Arabia. Both of its relationships depend on a settlement.
Oil traders gave more weight to the talks than to the attack record. Brent topped $113 on October 22 after the seven-tanker reports. Crude had fallen from a six-month high earlier this week, and the Tehran meeting led traders to reduce the risk premium further. Crude extended its losses, and Brent traded near $114.70 to $114.88 a barrel, down about 0.8% on the day. West Texas Intermediate slipped toward $100.80. Prices now rest on the hope that the talks will reduce attacks, while UKMTO continues to report tankers struck in the strait.
Part of a tracked trend
Middle Powers Build Security Blocs Outside Washington
States that once relied on American guarantees keep forming their own mutual defense arrangements, redirecting arms procurement away from Western suppliers and creating overlapping commitments that make regional crises harder to contain.
If the framing holds, Riyadh gets a channel to reduce Houthi attacks without depending on Washington. Islamabad gains standing as a broker with Saudi and Iranian backing. Tehran gains regional legitimacy while the US blockade continues. Traders who sold the oil risk premium also profit.
The National and Al-Monitor confirm the meeting. The article leaves out two facts from that day. The Houthis said they struck the East-West pipeline pumping stations and Riyadh airport again (Saudi Arabia did not confirm this), and the Saudi-led coalition bombed Houthi missile sites. The agenda also included the US blockade of Iranian ports, which the article omits.
An open-source-intelligence read of how likely this story is true with its real nuance, not a judgment of any outlet. It assesses the claim, weighing independent and adversarial reporting. How we label confidence.
What this means
Three regional powers that each have something to lose from escalation are now acting together as intermediaries. Saudi Arabia wants the Houthi attacks to stop. Pakistan wants a quiet western border. Turkey wants to be the broker the other parties rely on. None of them can deliver Washington's terms, and none can compel Iran, so the talks can lower tension but cannot settle the US-Iran dispute. The oil market has priced the meeting as a de-escalation signal, but a two-session fall from a six-month high removes only a small part of the risk premium. Brent above $110 still reflects shipping through Hormuz that remains well below normal. The relevant precedent is the 2023 China-brokered Saudi-Iran normalization. It reduced direct friction but did not end proxy attacks in Yemen. The likelier outcome over the coming weeks is a partial reduction in Houthi strikes on Saudi territory, not a full reopening of Hormuz, which depends on Washington and Tehran. That would keep Brent above $100. A joint announcement on safe passage for commercial tankers would prove that read too cautious, and a new Houthi strike on Saudi oil infrastructure would end the de-escalation trade.
Synthesized from: Dawn · IRNA (Farsi) · BBC News Hindi · Investing.com Commodities
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