Oil Tanker Rates Hit Record $1.4M Daily as Shipping Reshapes

Supertanker rates surged 40% in early October to $1.4 million per day on Persian Gulf–East Asia routes, exceeding September's prior record, as geopolitical disruption lengthens voyages and ties up vessel capacity. Crude transport costs feed directly into oil prices; sustained elevated shipping constrains supply-side relief and supports energy inflation globally, affecting CAD and commodity-linked currencies.