Persian Gulf-Asia tanker rates top $37/bbl, squeezing Asian refiners

Freight costs for crude from the Persian Gulf to Asia have surpassed $37 per barrel, a sharp increase that raises delivered crude costs for Asian refiners. The spike likely reflects heightened tanker demand or rerouting due to regional disruptions, though the specific driver is unstated. This margin compression could pressure Asian refining margins and potentially influence regional product pricing.

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