The price of renting oversized tankers to transport crude oil soared to a new high, adding huge costs to the oil supply chain. The cost of renting an oversized tanker to transport U.S. crude oil to Asia is $77 million, according to data from the London Baltic Exchange on Wednesday. The average for 2025 was $9.2 million. Although the main price of crude oil futures is currently trading around $100 per barrel, these futures are usually based on the crude oil grade of the export country. For 2 million barrels, shipping costs mean an additional delivery cost of approximately $38.50 per barrel. In some markets, such as West Africa, exporters are forced to sell goods at a discount at the place of export. The war in Iran has brought chaos to the tanker market, reshaped the way oil is shipped from the Middle East, and greatly increased transit times. Although crude oil flows in the region have rebounded in recent weeks, the trade process is far more complicated than before the Iran war, leading to extended delivery times and actually drastically reducing the effective capacity of the fleet.

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