US-Israel War with Iran: Oil Freight Rates Double As Gulf Conflict Escalates
As the US‑Israel war with Iran disrupts Gulf shipping routes and elevates risk premiums, oil freight rates have surged dramatically, with tanker charter costs spiking as owners demand higher compensation for navigating the conflict‑affected Strait of Hormuz and surrounding waters. The surge reflects war‑risk insurance hikes and reduced tanker availability, impacting global energy logistics and trade costs.
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