**Oil Shipping Costs Surge**

Everyone's focused on the price of oil, but what about the price of moving it?

The cost to ship oil is **7x higher than a year ago**. A new **GS** report says freight rates have topped **$20/barrel**.

 **$7: Hormuz war-risk premiums**

 **$4: Tankers tied up transferring oil outside the Gulf**

 **$4: Higher ship fuel costs**

 **$3: Rerouting and inefficient shipping**

 **$2: Iran's blocked tanker fleet**

With **Hormuz attacks continuing daily**, these prices aren't coming down anytime soon.

 [Trade on WEEX](https://www.weex.com/en/register?vipCode=stockbot)** ****