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Oil Tankers Plying the US-China Route Command $60 Million. It’s Crushing Demand.
Source: Bloomberg
Energy Markets & PricesGeopolitics & WarTransportation & LogisticsCommodities & Raw Materials
US crude oil exports to Asia are set to fall to multi-year lows after the Iran war disrupted global shipping. The cost to lease a tanker for the Pacific voyage has reached a record of almost $80 million, highlighting sharply increased transport costs.
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