Oil Supertanker Costs Near $500,000 a Day as Iran War Disrupts Flows
The cost of booking the world’s biggest oil tankers on the industry’s benchmark route hit a fresh record as shipping traffic through the Strait of Hormuz remains all-but halted.

Stocks dropped sharply Tuesday morning as financial markets braced for broader economic blowback from war in Iran. The Dow Jones Industrial Average was down more than 1,100 points shortly before 11 a.m. EST Tuesday, declining 2.3 percent on the morning. The S&P 500 index was down 2.2 percent, and the Nasdaq composite was down 2.3…
The cost of booking the world’s biggest oil tankers on the industry’s benchmark route hit a fresh record as shipping traffic through the Strait of Hormuz remains all-but halted.
Inflation fears over higher energy prices could force central banks to take action, a top fund official said.
FTSE 100 on track for its worst day in 11 months, while Japan’s Nikkei and South Korea’s Kospi also fallBusiness live – latest updatesMiddle East crisis – live updatesThe war in the Middle East has plunged financial markets around the world into turmoil for a second day, with oil and gas prices surging and share indices plummeting days after the US-Israel…
The president has no lawful authority to launch a war absent a congressional declaration of war.