‼️ 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.
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‼️ Oil Shipping Costs Surge Everyone's focused on the price of oil, but what about the price of movin
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