Cargo ships

Oil Tankers Plying the US-China Route Command $60 Million. It’s Crushing Demand.

Bloomberg Markets22 October 2026, 19:46 UTCPeople's Republic of China

US crude oil exports to Asia are set to hit multi-year lows after the Iran war disrupted global shipping and pushed the cost to lease a tanker for the Pacific journey to a record of almost $80 million.

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