Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade

September 27, 2019 admin Business News Comments Off on Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade

Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude out of Iran.

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Source:: Reuters – Business News