Freight to move U.S. crude to Asia hit a record ~$44.8m as Middle East supply
disruption fears intensified, Baltic Exchange data showed. Chartering a VLCC to
carry 2m barrels from the U.S. Gulf of Mexico to Asia cost about $44.8m on
Tuesday, up from $39.0m a day earlier and versus roughly $17.8m prior to the
outbreak of war involving Iran. Saudi Arabia’s closure of its east‑west pipeline
and elevated Strait of Hormuz transit risk have boosted demand for U.S. barrels
as a supply substitute; despite sharply higher freight, WTI remains competitive
on arrival in Asia, keeping buyers engaged. Kpler shows six VLCCs slated to load
in October from the U.S. Gulf bound for Asia.
