Supertanker Rates Hit $77 Million on Hormuz Disruption

The cost of hiring a very large crude carrier to move US oil to Asia has surged to $77 million, up from a 2025 average of $9.2 million, according to the Baltic Exchange. The spike, driven by disruptions in the Strait of Hormuz, adds about $38.50 per barrel for a 2 million barrel cargo. Sellers in some markets, like West Africa, are discounting cargoes.