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Sunday, October 25, 2026Updated 01:37 UTC

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Record Tanker Rates Cripple U.S. Crude Oil Flows to Asia

Source: OilPrice.com · Oct 24, 2026 23:00 UTC

An oil tanker ship in the Houston Ship Channel — File photo roger4336 / Flickr · CC BY-SA 2.0 · Source

The Quick Take

The Iran war has made oil tanker voyages so inefficient that vessel availability has crumbled and freight costs have soared to record-highs, all but erasing the incentive for shipping crude oil from the U.S. Gulf Coast to Asia. The cost of shipping crude oil from the U.S. Gulf Coast to China soared to as high as $80 million earlier this month. That’s ten times the average tanker rates that had hel

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