West’s gasoline shipping costs soar after Russia embargo – Bloomberg ...News

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Tankers earmarked for Russian trade have left fewer vessels to serve other suppliers, the outlet reports The cost of transferring gasoline on ocean-going vessels skyrocketed days after EU sanctions targeting Russian petroleum sales went into effect, Bloomberg reports. Medium and small tankers carrying refined fuels on the Atlantic Ocean are raking in profits, with daily earnings reaching $55,857 – a surge of 405%, the outlet wrote, citing data from the Baltic Exchange in London. Profits soared by 58% on Thursday alone, the largest one-day gain since late 2021. The EU and G7 nations introduced a price cap on Russia

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