TotalEnergies CEO said a VLCC round-trip via the Strait of Hormuz carries roughly $20m in freight and insurance. He added that, with producers "eager to find buyers", TotalEnergies is buying crude inside the Persian Gulf at about $50-60/bbl, and those purchases remain profitable.

2026-08-24

TotalEnergies CEO said a VLCC round-trip via the Strait of Hormuz carries roughly $20m in freight and insurance. He added that, with producers "eager to find buyers", TotalEnergies is buying crude inside the Persian Gulf at about $50-60/bbl, and those purchases remain profitable.