Tanker Shuttles Keep Hormuz Oil Moving as Costs Soar
8 Articles
8 Articles
More than a million dollars a day to charter a single tanker. The oil market has become so extreme due to the war with Iran, the risky passage through the Strait of Hormuz, and the lack of available ships that the price of transporting oil from the Persian Gulf to Asia has jumped 12-fold in just a few months. Record shipping costs are already being passed on to the price of oil, and the consequences could be felt by the entire global economy thr…
Freight cost of supertankers on some routes exceeded $1 million per day, and transportation problems can keep fuel prices high
The Iran war has created a new shortage in the oil market. This time, it's not just the crude oil that's in short supply, but the ships that carry it.
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