Nigeria’s Oil Shipping Costs Soar as Tanker Owners Steer Clear
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The cost of shipping oil from Nigeria surged the most in more than a year at the end of a week in which some owners were said to be staying away from Africa’s largest oil producer.
Freight for ships hauling about 1 million barrels of crude from Nigeria to Europe jumped almost $16,000 a day on Friday, the biggest gain since April 2022. It rose to just over $64,000 a day, data from the Baltic Exchange show.