Middle East Supertanker Fees Soar Amid Rising Iran Tensions
Supertanker costs in the Middle East have skyrocketed due to escalating U.S.-Iran tensions, particularly after Iran’s attacks in the Strait of Hormuz. Brent crude futures surged nearly 10%, while VLCC freight rates hit an all-time high of W419, or about $423,736 daily, driven by fears of prolonged disruptions.