Record High Tanker Rates Severely Disrupt U.S. Crude Oil Shipments to Asia

This report highlights a dramatic increase in oil tanker freight rates, which have surged tenfold due to the ongoing Iran war. As a result, the cost of shipping crude oil from the U.S. Gulf Coast to Asia has reached up to $80 million per voyage, severely impacting U.S. crude oil flows to the region.

Originally published by gnews