**The war with Iran and drone attacks that shut Saudi Arabia’s East-West pipeline have driven supertanker rates to record highs,** The [Wall Street Journal](https://www.wsj.com/business/energy-oil/a-shortage-of-oil-tankers-is-threatening-to-keep-gas-prices-high-66b2675a) **reports. Hiring a VLCC to load in the Persian Gulf and transit Hormuz topped $1 million a day, or roughly $26 per barrel.**

The pipeline outage has pushed more Saudi crude back through Hormuz, while shuttle runs and longer routes tie up vessels and deepen the tanker shortage. About 15% of the global VLCC fleet is now off Oman.

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