Oil Tanker Rates Soar Amid Shipping Shortages and Middle East Tensions

Oil tanker rates on the key Middle East-to-China route surged this week to the highest level since November as vessel supply is tightening and persistent tensions around Iran put shippers on alert. The daily rate for an oil tanker to ship crude from the Middle East to China jumped to as high as $129,000 on Monday, up by 5.1% on the day, to the highest level since November 2025, per data from the Baltic Exchange cited by Bloomberg. Rates had already soared by over 60% in a single day on Friday amid the U.S.-Iran tensions, which sent Brent...
2026-02-03 15:15:00