Bank of Canada Governor Tiff Macklem stated on October 17, 2026, that the central bank expects to revise its inflation forecast higher due to persistent Middle East conflict and elevated oil prices.

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Escalating security threats from Iran-aligned Houthi militia in Yemen have heightened regional conflict risks across the Gulf, prompting U.S. diplomatic missions to issue security alerts

The U.S. State Department is preparing an ordered departure of some personnel and family members from U.S. embassies across the Gulf region, according to three U.S. officials on October 21, 2026

Two U.S. officials stated that the ordered departures from U.S. embassies across the Gulf region could potentially involve the evacuation of all personnel and family members from the U.S. Mission to Saudi Arabia

On October 21, 2026, the U.S. Embassy in Riyadh issued a security alert warning of potential further attacks by Houthi forces on Saudi Arabia

Like Malaysia, Iraq is a Muslim-majority country that does not formally recognize the state of Israel

Muslim-majority Malaysia does not maintain formal diplomatic relations with Israel and maintains a diplomatic stance supporting the Palestinian cause

President Donald Trump blamed Ukrainian drone attacks on Russian oil refineries for rising fuel prices ahead of the November 3, 2026 U.S. midterm elections

The UK Ministry of Defence stated that Houthi attacks on Saudi Arabia threaten British national economic and security interests while worsening Yemen's humanitarian crisis

U.S. Secretary of State Marco Rubio scheduled a visit to Jamnagar, Gujarat on October 21, 2026 to tour the Reliance oil refinery and the Vantara animal facility

U.S. President Donald Trump suspended certain energy sanctions against Russia and five major buyers of Russian oil, including India

UK Defence Secretary Wes Streeting stated that regional instability and Middle East conflict are directly adding to fuel and living costs for British households

U.S. Secretary of State Marco Rubio stated that the United States will discuss with Reliance Industries the refining of Venezuelan crude oil and oil production in Venezuela

U.S. Secretary of State Marco Rubio held a trilateral meeting in Mumbai on October 20, 2026 with Indian External Affairs Minister S Jaishankar and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan

President Donald Trump announced an agreement on October 9, 2026, allowing Russia to supply diesel to the global market, authorized via Treasury General License 135 through April 7, 2027.

President Donald Trump stated that allowing Russian diesel onto the global market aims to lower fuel prices for American consumers and signal potential economic benefits to Moscow.

Iranian Foreign Minister Abbas Araghchi stated on October 19, 2026 that the war imposed by the United States and Israel, combined with an economic blockade, is the primary source of Middle East insecurity.

Iran's Islamic Revolutionary Guard Corps stated that an oil tanker caught fire after striking a sea mine in the Strait of Hormuz on October 18, 2026.

Russian Foreign Minister Sergei Lavrov held talks with Iranian Foreign Minister Abbas Araghchi in Tehran on October 19, 2026 to discuss Middle East crisis mediation.

The October 9, 2026 agreement between Russian President Vladimir Putin and U.S. President Donald Trump enabled Russian diesel sales to international and U.S. markets.

U.S. President Donald Trump criticized Ukrainian attacks on Russian diesel refineries, asserting that strikes on refineries harm global diesel markets.