Shipping Crisis Drives Asian Crude Buyers to Smaller Tankers

Soaring crude oil shipping costs, reaching record highs due to the Iran war's impact on trade routes and increased supertanker demand in the Strait of Hormuz, are altering Asian buyers' strategies. They are increasingly opting for smaller vessels and long-term charter deals to secure crude supplies, according to refining and trading sources. This logistical shift could contribute to persistent upward pressure on crude oil prices, potentially fueling global inflation and influencing gold's safe-haven appeal, while also impacting Pakistan's import costs and the USD/PKR rate.

بحوالہ / Source: oilprice.com