Middle East Crude Oil Tanker Rates Reached A Multi-Decade High In March

CleanTechnica
By US Energy Information AdministrationMar 27, 2026, 10:33 pm357 ptsTop
In March 2026, tanker rates for Very Large Crude Carriers (VLCCs) leaving the Middle East to Asia were the highest since at least November 2005, when data were first recorded. The price increase followed Iran’s closure of the Strait of Hormuz on March 2. The Strait of Hormuz is an important chokepoint,…

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