11:05 - 16.09.2026

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September 16, Fineko/abc.az. Shipping costs for transporting US crude oil to Asia have surged to a fresh record high of $44.8 million  amid worsening Middle East supply disruptions.

According to data from the Baltic Exchange, the chartering rate for a Very Large Crude Carrier (VLCC) moving 2 million barrels of crude from the US Gulf Coast to China surged from $39 million a day earlier. Escalating security risks along critical transit points like the Strait of Hormuz have drastically tightened tanker availability, driving up global freight rates.

Despite soaring freight expenses, US crude remains economically viable for Asian refiners due to its price advantage over regional alternatives such as UAE's Murban crude.