Cargo shipsEconomic data

Goldman Sachs Warns of New Oil Price Shock as Tanker Rates Soar

OilPrice.com21 October 2026, 09:30 UTCIran

The average global freight rate to transport oil has surged to $20 per barrel from $3 per barrel last year as the Iran war and the Hormuz crisis have created a shipping crisis that’s unlikely to end soon, Goldman Sachs says. Oil shipping rates are set to remain elevated in the near term amid no end in sight to the Middle East crisis, with the massive surge in freight costs posing an upside risk to Goldman’s current baseline oil price forecast of $90 per barrel Brent crude at the end of this year, the bank’s analysts said in a…

Read the full story at OilPrice.com Open in the live monitor

Related discussion groups

No group discusses this yet. Start a discussion group and attach this story.

More news about Iran

Putin ofrece ayuda a Estados Unidos para solucionar conflicto con IránInfobae Americas21 October 2026, 10:32 UTCIranGovernment leaders
Iran FM: We are ready for diplomacy, but will defend ourselvesFinancial Times21 October 2026, 10:22 UTCIranA way forward can only materialise once the US administration genuinely accepts that it has no military options
Iran’s Mazandaran Prov. ready to expand trade, technology ties with Uzbekistan: GovernorIRNA21 October 2026, 10:17 UTCIranSari, IRNA – Iran’s northern Mazandaran Province is ready to expand trade with Uzbekistan, transfer technical expertise and pursue joint economic projects, the provincial governor has said.
Iran Urges US to Lift Blockade to Break Deadlock as Threats GrowBloomberg Politics21 October 2026, 10:17 UTCIranWar activityIran said the US must lift its naval blockade and show it’s serious about ending the war diplomatically, as a deadlock over talks and growing threats from both sides fuel fears of a return to outri...
Iran’s naval blockade runs contrary to intl. law, UN CharterMehr News21 October 2026, 10:11 UTCIranTEHRAN, Oct. 21 (MNA) – A spokesman for Iranian Parliament National Security and Foreign Policy Commission has said that Iran’s naval blockade is a violation of international law, emphasizing Iran...
Iran war sparks heating crisis in US north-east as winter approachesFinancial Times21 October 2026, 10:00 UTCIranEconomic dataRecord heating oil prices are forcing the region to rethink prior opposition to natural gas pipelines
Pezeshkian: Iran will not yield to US pressure, has no desire for warIRNA21 October 2026, 09:55 UTCIranGovernment leadersTehran, IRNA – President Masoud Pezeshkian says Iran will continue to resist US pressure and will never submit to coercion, stressing that the country does not seek war but will not back down in th...
Netanyahu dringt aan op hervatting oorlog tegen Iran: wanneer barst de bom?De Telegraaf21 October 2026, 09:52 UTCIranGovernment leadersBenjamin Netanyahu dringt stevig aan op de hervatting van de oorlog tegen Iran, dat tijdens indirecte onderhandelingen met de VS vooralsnog geen millimeter toegeeft. Wanneer barst de bom?

More on Cargo ships

Kikilias at North Bund Forum: Shipping’s major challenges can only be addressed through international cooperationNaftemporiki21 October 2026, 10:35 UTCCargo shipsMaritime Affairs and Insular Policy Minister Vassilis Kikilias focused on the challenges facing global shipping, the need for international cooperation and the conditions for a realistic energy tra...
Russia to send off first diesel cargo to US after sanctions reliefDaily Sabah21 October 2026, 10:20 UTCRussiaCargo shipsRussia will send off its first diesel tanker for the U.S. on Thursday, Russian Deputy Prime Minister Alexander Novak was quoted as saying on Wednesday, following a deal allowing...
China’s Type 051C gets a refit as the PLA Navy’s legacy warships near retirementSouth China Morning Post21 October 2026, 10:00 UTCPeople's Republic of ChinaCargo shipsChina’s Type 051C destroyer Shenyang has been spotted undergoing sea trials after a reported refit, as the People’s Liberation Army (PLA) begins phasing out legacy warships following the commission...
Egyptian Navy celebrates 59th anniversary commemorating sinking “Eilat” destroyerEgypt Independent21 October 2026, 09:57 UTCEgyptCargo shipsThe Egyptian Navy celebrated its 59th anniversary, commemorating October 21, 1967, the day Egyptian naval forces changed the concepts of naval warfare worldwide by successfully sinking the Israeli...
Rusia enviará el jueves el primer petrolero con diésel rumbo a Estados UnidosClarín21 October 2026, 09:40 UTCRussiaCargo shipsUn buque cargado con 40.000 toneladas de diésel partirá hacia EE.UU. tras un pacto entre líderes de ambas naciones, según informó un alto funcionario ruso.La exportación responde a un acuerdo para...
Sultan's state visit: King Charles praises Oman's 'noble efforts' to keep Strait of Hormuz openThe National21 October 2026, 09:09 UTCOmanGovernment leaders