Supertanker rates to ship crude on the key Middle East-to-China route have surged to a six-year high as Persian Gulf supply to India soars and traders rush shipments to precede a potential U.S. military campaign in Iran, industry data and sources tell Reuters. The daily rate for hiring a very large crude carrier (VLCC) capable of shipping 2 million barrels of crude jumped to as much as $170,000 on Tuesday, tripling since the beginning of 2026. A number of factors have contributed to the surge, most notably the increased demand from…
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