Escalating Iran Conflict Drives Up Global Oil Tanker Rates

Geopolitical tensions involving Iran have severely disrupted maritime logistics, transforming Very Large Crude Carriers (VLCCs) into highly lucrative assets with daily earnings soaring to $650,000 on key routes.

28 Aug, 23:15 — 28 Aug, 23:15

Post Share

Sources

Showing 1 of 1 sources

zerohedgeLow3d ago

The Iran War Has Turned VLCCs Into $650,000-A-Day Assets

The Iran War Has Turned VLCCs Into $650,000-A-Day Assets Authored by Julianne Geiger via OilPrice.com, More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago-and nearly 27% above the $510,000 reached just ten days earlier. The spike comes as Persian G...

By Tyler Durden

Read full article →

Escalating Iran Conflict Drives Up Global Oil Tanker Rates

Sources

The Iran War Has Turned VLCCs Into $650,000-A-Day Assets

Related Stories

Russian strikes on Kyiv kill dozens amid sixth consecutive day of attacks

Trump Administration Allocates $4 Million for Right-Wing Media in Europe

Tanker Hit by Unknown Projectiles in Strait of Hormuz Raises Tensions

Trump Rejects Nuclear Options and Downplays Escalation in US-Iran Clashes