"Rates to transport crude from the Middle East to Asia aboard a VLCC recently exceeded $1.2 million per day, up from roughly $30,000 a day in January according to shipping broker Poten & Partners."
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COMMENTARY: Oil's new problem isn't supply. It's logistics
Middle East crude exports recently climbed to their highest levels since the start of the Iran war as more Gulf producers resume transit through the Strait of Hormuz – despite the continued threat of ...