23 Hrs
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2026-10-06T13:44:17.000Z

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$40M cost for oil transit via Strait

$40M cost for oil transit via Strait

The article discusses the fastest oil flow through the Strait of Hormuz since the start of the war between Iran, with transportation costs rising to around $40 million per voyage due to repeated attacks on ships in the strait. Currently, "shuttle" trips are being used by giant oil tankers to carry crude oil, and figures show an increase in the number of tankers from 30 to 39, with substantial bonuses for sailors reaching up to $25,000 per trip, despite the heightened risks of attacks, injuries, and fatalities among crew members due to ongoing hostilities. Global oil prices have temporarily declined, but the ongoing crisis imposes high costs on producers and threatens to disrupt worldwide oil supplies.

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