Tanker freight rates reach five-year high amid sanctions
pre-market1 source ↓written by the desknot a recommendation
- of crude
- 1.4 million barrels
Tanker freight rates have surged to a five-year high as sanctions on Russian oil intensify. Two blacklisted tankers, carrying 1.4 million barrels of crude, are currently anchored off Mundra, India, indicating a significant impact on exports due to new penalties imposed by the EU, UK, and US.
This development may disrupt global oil supply chains and elevate shipping costs, impacting traders in the energy sector. 🚢
Not investment advice. For informational purposes only.