business ⛽ Iran War Makes Tankers Super Profitable
Gulf oil movement is experiencing record high earnings on supertanker routes. This is happening as Persian Gulf producers increase crude shipments through the Strait of Hormuz amid the ongoing Iran war. Benchmark earnings hit $647,000 per day on Thursday, a massive jump from just a year ago. Limited tanker availability willing to risk the route has created a major supply squeeze for transport. This situation is further complicated by Red Sea attacks, lengthening voyages significantly. ⛽