According to CNBC, Trafigura chartered the Alexandros to sail from the U.S. Gulf Coast to China for $76 million, with the vessel expected to load around Nov. 19. A source familiar with the deal said a normal rate for the route based on pre-war levels would be $7 million to $10 million, and the journey works out to about $38 per barrel of oil assuming the tanker carries 2 million barrels. Shipping costs have surged globally as the crisis in the Middle East has tightened the supply of available tankers, while Middle East producers use a shuttle system through the Strait of Hormuz to move oil to Asia.