Tanker shortage lifts oil-shipping rates as Hormuz tightens
Drone attacks that shut Saudi Arabia’s bypass pipeline earlier this month redirected more crude through the Strait of Hormuz, tightening the already stretched tanker fleet and sending oil-shipping rates higher, according to a WSJ newsletter via TradingView News.
The Iran war has created a new energy-market shortage: tankers to carry crude oil. Drone attacks that shut Saudi Arabia's bypass pipeline earlier this month forced more crude back through the Strait of Hormuz and onto a tanker fleet already stretched thin. The impact has spread…