The war in Iran increased the rent of oil tankers 5 times
The International Energy Agency said Asian refiners faced the highest transportation costs, and rising crude oil delivery costs pushed margins at Asian refiners that process medium-sour crude into negative territory in September.
The International Energy Agency said Asian refiners faced the highest transportation costs, and rising crude oil delivery costs pushed margins at Asian refiners that process medium-sour crude into negative territory in September.
Ambassador Arjan-Economic Group: The agency added that the shipping rate for a very large oil tanker on a route from the Persian Gulf in the Middle East to Asia has increased to about $36 per barrel by early October, which is more than five times the cost before the war (imposed against) Iran.
The International Energy Agency said refiners could offset some of the decline by buying U.S. crude, but that freight rates have also risen, with costs for the U.S. Gulf Coast route to China exceeding $37 a barrel.
According to the Investing report, the agency announced that rising costs of crude oil delivery caused the profit margins of Asian refiners that process medium sour crude oil to reach negative territory in September.
This situation comes as disruptions in the flow of oil from the Middle East reshape crude oil trade routes and increase transportation costs for buyers farther from producing regions.
For Asian refiners, the combination of high crude prices and record tanker rates means the cost of sourcing alternative sources could remain high even as refiners move away from traditional Middle Eastern cargoes.
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A political analysis emphasizes that Europe, Asia and the Middle East are reducing their dependence on Washington by implementing the "risk reduction" strategy from America; The process that has intensified in the second term of Trump's presidency.
The New York Times has reported in an article that US President Donald Trump, despite apparent "tactical advantages" at some points in the war, has actually lost control over the course of developments in the war with Iran.