Heavy tanker fares hit Asian refiners' profits

The International Energy Agency (IEA) said in its monthly report that the cost of transporting oil by supertankers has reached an all-time high, putting increasing pressure on the margins of Asian refiners, which are heavily dependent on Middle Eastern crude.

The International Energy Agency (IEA) said in its monthly report that the cost of transporting oil by supertankers has reached an all-time high, putting increasing pressure on the margins of Asian refiners, which are heavily dependent on Middle Eastern crude.