Tanker Rates Jump as Attacks and Longer Routes Tighten Middle East Supply
Dow Jones Newswires, citing ANZ, reports that Middle East tanker costs and vessel prices have jumped as attacks and longer routes reduce availability.
- published
- in the api
- on the website
on the website stories appear 15 minutes after publication, in the api at once. connect the api →
what happened
Dow Jones Newswires reports, citing ANZ, that attacks and extended voyages are driving a sharp rise in oil-tanker freight rates in the Middle East and limiting available vessels.
ANZ says the daily hire rate for a very large crude carrier moving oil from the Persian Gulf to China is now close to $1 million, versus roughly $230,000 on the eve of the war. The bank cites data from shipping-data provider Clarkson. Costs have climbed elsewhere too: a U.S. tanker cargo fixed last week carried a freight charge of $41 a barrel.
The value of used tankers has also reached a record $240 million. ANZ analysts said, “A shortage of the tankers needed to ship oil has emerged as a key constraint on Middle East oil flows, raising questions about the sustainability of recent export gains and increasing the risk of supply disruptions in the months ahead.”
why it matters
Higher freight charges and record second-hand vessel prices show that shipping capacity is becoming a major constraint for Middle East oil flows. That makes supply logistics more sensitive to further attacks and route changes.
instruments
sources
- Oil Tanker Rates Surge Amid Rising Attacks, Longer Voyages — Market Talk — Dow Jones Newswires, 12 October 2026 at 09:25 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
on the website stories appear 15 minutes after publication, in the api at once.
get stories in real time ↗