🚨 OIL CRISIS SPREADS — TANKER COSTS SURGE
The global oil shock is moving beyond crude prices. A shortage of available supertankers and disrupted shipping routes are pushing the cost of transporting oil to unprecedented levels.
🔑 Key Points:
• Some major tanker routes have seen rates surge 400%–500% year-on-year
• Supertanker rates have reached around $1M+ per day
• Houston-to-Asia shipping costs are around $338K/day
• West Africa-to-China rates have reached about $486K/day
• Higher freight costs can raise the delivered cost of crude
• Expensive shipping could make some long-distance oil trades uneconomical
📊 Market Insight: The oil market is facing a second cost layer: the price of crude + the cost of moving it. Even if benchmark oil prices ease, elevated tanker rates could continue putting pressure on fuel markets and inflation.
🛢️ Oil → Tanker Costs → Fuel Prices → Inflation
#Oil #crudeoil #Energy #Inflation #BinanceSquare $BZ $CL
The global oil shock is moving beyond crude prices. A shortage of available supertankers and disrupted shipping routes are pushing the cost of transporting oil to unprecedented levels.
🔑 Key Points:
• Some major tanker routes have seen rates surge 400%–500% year-on-year
• Supertanker rates have reached around $1M+ per day
• Houston-to-Asia shipping costs are around $338K/day
• West Africa-to-China rates have reached about $486K/day
• Higher freight costs can raise the delivered cost of crude
• Expensive shipping could make some long-distance oil trades uneconomical
📊 Market Insight: The oil market is facing a second cost layer: the price of crude + the cost of moving it. Even if benchmark oil prices ease, elevated tanker rates could continue putting pressure on fuel markets and inflation.
🛢️ Oil → Tanker Costs → Fuel Prices → Inflation
#Oil #crudeoil #Energy #Inflation #BinanceSquare $BZ $CL
