Mounting

  • Crude Oil
    Mounting Tensions in Gulf Affect Oil Shipping Rates

    Mounting Tensions in Gulf Affect Oil Shipping Rates

    Oil tanker owners are elevating the costs they charge to export Middle East crude as tensions mount in a region that accounts for about third of all seaborne petroleum shipments. Rates for transporting 2 MM-bbl cargoes from Saudi Arabia to China leaped to nearly $26,000 a day on Thursday –  over double where they were initially in June, according to…

    Read More »
Close