Oil Prices Near Iran-War Highs as Tanker Rates Surge
Rising costs of moving crude are adding to the surge in global oil prices.
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Rising costs of moving crude are adding to the surge in global oil prices.
U.S. stocks ended mixed as oil futures surged, Treasury yields fell after a well-subscribed 30-year auction and tech shares weakened on renewed doubts about artificial-intelligence profits.
Europe's demand for liquefied natural gas is expected to keep shipping costs capped this winter, while a resurgence in Asian buying could constrain vessel availability and lift freight costs. LNG freight rates have fallen 80% to 90% from wartime highs, with more newbuild vessels joining the global fleet and more US car
Brent crude rose above $100 a barrel Wednesday for the first time since July after attacks on tankers and energy infrastructure intensified across the Middle East. West Texas Intermediate also advanced toward $95.