London: The cost of shipping oil in the largest tankers hit record highs this week following the biggest wave of attacks on shipping since the U.S.-Iran war began in late February.
The shipping rate for supertankers - also called very large crude carriers or VLCCs - loading oil from the Gulf of Oman for shipment to China reached around 450 on a Worldscale basis, equaling roughly $11.50 per barrel, according to Baltic Exchange data. This is the highest since the rate was launched earlier this year, after the start of the U.S.-Israeli war with Iran.
