Rising vessel attacks amid the ongoing U.S.-Iran conflict and clashes with Houthi forces in Yemen have pushed freight rates for large crude oil tankers to record highs.
Sea-news.az reports citing Reuters, that the shipping tariff for transporting crude from the Gulf of Oman to China via Very Large Crude Carriers (VLCCs) has reached a record high, surging to approximately 11.5 dollars per barrel.
Industry analysts note that this figure marks the highest level recorded since the beginning of the year. The sharp spike in prices is directly linked to the widening conflict in the Middle East and the intensification of security threats targeting commercial shipping.
The report emphasizes that soaring transportation costs could have broader repercussions for the global economy. If high tariffs persist over the long term, they risk compounding inflationary pressures and driving up operational expenses for energy companies, businesses, and consumers grappling with heightened supply chain uncertainty.
Market observers indicate that these steep price increases are also spilling over into other key regional export routes across the Middle East.
