Oil Tankers Charging $87,000 a Day Signal Supply Is on the Rise
The cost of hiring massive vessels to move crude cargoes is at the highest since 2023.
An oil tanker in the Strait of Juan de Fuca near Canada.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities powering the global economy. Today, reporter Alex Longley looks at what shipping rates are telling us about the state of the world’s oil supply.
Supersized oil tankers are in high demand — the latest sign that there’s plenty of crude around in the global market.