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Market Impact: 0.75
Oil Tankers Earn $1 Million a Day as War Leaves Ship Shortage
Source: Bloomberg
Geopolitics & WarEnergy Markets & PricesTransportation & LogisticsTrade Policy & Supply Chain
Benchmark oil-tanker charter costs exceeded $1 million per day for the first time as the Iran war sharply reduced the number of vessels willing to transit the Strait of Hormuz to load cargoes. The disruption raises freight and delivered-crude costs and creates a material supply-chain risk for global oil markets.
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