Shortage of Tankers Disrupts International Oil Transport

Svenska Dagbladet

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The world is starting to run out of available oil tankers, driving up shipping costs and threatening to disrupt global oil flows even further.

BNR Nieuwsradio

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Between the oil well and the gas pump lie complex supply flows that have been subject to significant changes since the start of the Iran-Iraq War. In addition to the semi-permanent closure of the Strait of Hormuz and the recently announced Houthi blockade of Saudi ships in the Red Sea, there is another element giving oil traders a headache: it is becoming increasingly difficult to charter oil tankers to transport the black gold from A to B.

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The oil price has come back from its recent high, but behind the apparent relaxation the oil crisis is intensifying. While Brent futures are back below 104 dollars, European refineries are paying more than 130 dollars for crude oil available in the short term. The world is not running out of oil – but the available oil tankers and economically transportable supplies. As a result, the [...] The post oil crisis is coming to a head: now the tankers…