US-China oil tanker rates hit record $80 million amid Iran war shipping disruption
Briefing by News4U · First published
US crude exports to Asia face multi-year lows as tanker lease costs for the Pacific route reach nearly $80 million.
US crude oil exports to Asia are set to hit multi-year lows after the Iran war disrupted global shipping and pushed the cost to lease a tanker for the Pacific journey to a record of almost $80 million, Bloomberg reported. [1]
Sources
- Oil Tankers Plying the US-China Route Command $60 Million. It’s Crushing Demand.
Bloomberg · · Summary only