Thursday, November 12, 2026 | Dubai | Morning Bulletin
Good morning from Dubai. The Gulf’s shipping crisis has deepened, even as diplomatic openings offer cautious hope. Russia and Ukraine have agreed to a major prisoner exchange in Abu Dhabi, oil prices are easing, and European and Asian leaders are preparing for high-stakes meetings.
Our three top headlines: Shipping through the Strait of Hormuz slows sharply after attacks on vessels. Russia and Ukraine agree in principle to a major prisoner swap. And Europe’s leaders meet in Dublin as the continent debates its role in Ukraine’s future.
1. Hormuz traffic slows as shipping risks rise
Only five commodity vessels were tracked crossing the Strait of Hormuz on Saturday, with none recorded on Sunday, according to shipping data cited by Reuters. The slowdown follows attacks on tankers and three vessels operated by Abu Dhabi National Oil Company last week. The figures may exclude ships with tracking systems switched off.
2. UAE vessel damaged in territorial waters
Abu Dhabi National Oil Company says one of its vessels was damaged in an attack in UAE territorial waters on Tuesday. The company has not reported the vessel’s identity, the extent of the damage or any casualties. Response teams are continuing their work as regional maritime risks grow.
3. Saudi Arabia reports fresh Houthi claims
Yemen’s Houthi movement says it launched missiles and drones at targets in Saudi Arabia, including Riyadh airport and energy infrastructure. Saudi authorities have reported an attack on the East-West pipeline in the Madinah region but said operations were unaffected. The Houthi claims about other targets have not been independently confirmed.
4. Iran accused of striking navigation systems near Hormuz
Three sources told Reuters that Iran attacked ship-navigation systems on Oman’s Didamar island, near the Strait of Hormuz. The damage remains unclear, and Reuters could not independently verify whether the systems were destroyed. Maritime sources said the impact on commercial shipping could be limited because other navigation systems are available.
5. Oil prices fall on peace hopes and supply concerns
Oil prices fell by more than a dollar in early Thursday trading as markets weighed hopes for progress in Iran and Ukraine talks against concerns about oversupply. Higher Opec-plus production and a reported increase in US crude stocks added to downward pressure. Continued attacks and disruption around Hormuz remain a major risk.
6. Russia and Ukraine agree in principle to prisoner exchange
Russian and Ukrainian negotiators have agreed in principle to a major prisoner exchange following US-mediated talks in Abu Dhabi. The two sides still have deep differences, particularly over territory and security. US envoys are expected to meet Russian President Vladimir Putin and then Ukraine’s President Volodymyr Zelenskyy.
7. European leaders focus on Ukraine and security
Leaders from across Europe are meeting in Dublin today for a European Political Community summit. Ukraine, European security and the continent’s role in negotiations with Russia are expected to feature prominently. The meeting comes after the Abu Dhabi talks, which produced a humanitarian agreement but no major political breakthrough.
8. Taiwan stresses equal participation at APEC
Taiwan’s President Lai Ching-te says his delegation will attend next week’s APEC summit in Shenzhen on an equal basis with other members. The statement comes amid strained relations with Beijing, which regards Taiwan as part of China. The summit is also expected to bring US President Donald Trump and Chinese President Xi Jinping together.
9. Seoul sees little chance of US–North Korea talks
South Korea says prospects for renewed contact between Washington and Pyongyang at the upcoming APEC summit are slim. US President Donald Trump has expressed interest in restarting talks with North Korean leader Kim Jong Un, but officials in Seoul and Washington see little chance of a meeting this year.
10. European businesses feel more confident, but inflation worries grow
A survey of European business groups suggests sentiment has improved, with the share of industrial respondents reporting negative views nearly halving since June. But inflation is climbing above the European Central Bank’s target as higher energy costs feed through to consumers. The findings point to a fragile recovery under pressure from the energy shock.
What to watch today
Watch for details of the Russia–Ukraine prisoner exchange, any new incidents affecting Gulf shipping, and the outcome of the Dublin summit. Oil prices and next week’s APEC meeting will also test whether diplomacy can begin to reduce regional and global uncertainty.
That’s your global morning news briefing for Thursday, November 12. Good morning from Dubai.
