Hormuz Risks Drive Gulf-China Supertanker Freight to $30 per Barrel

Supertanker freight rates from the Gulf to China have surged, exceeding $30 per barrel and nearing a third of the oil's price. This significant increase is largely due to the risk of crossing the Strait of Hormuz.

Saudi tankers are now crossing the strait during both daytime and nighttime, thanks to greater US Central Command support.

Ship-to-ship transfers off Oman have become a common practice, allowing large vessels bound for Asia to stay outside the strait. This approach helps keep oil flowing while containing costs associated with entering Hormuz.