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9.5

TotalEnergies CEO reports $20 million cost for VLCC transit through Strait of Hormuz

TotalEnergies CEO Patrick Pouyanné stated that the cost to transport oil via Very Large Crude Carriers (VLCC) through the Strait of Hormuz has reached $20 million. This figure reflects significant risk premiums and insurance costs associated with heightened regional tensions, signaling potential upward pressure on global energy prices.

gCaptainabout 2 hours agoIR, OMengCredibility 72%View source

Score Breakdown

Mosaic Score9.5
Confidence0.9
Significance0.8
Source credibility0.7

Intelligence Tags

Locations

Strait of Hormuz

Entities

countryregion
Source

Part of a situation

Related signals

8 found