Reported about 21 hours ago
Israeli airstrikes on Iran have led to a significant increase in freight rates and tanker stocks, as traders anticipate disruptions in oil shipping. Forward freight agreements for moving crude oil jumped by as much as 15%, while tanker stocks soared amidst concerns over potential risks in the region. Shippers are becoming more cautious, with several firms refraining from leasing vessels due to the volatile situation, particularly regarding the key Strait of Hormuz, which Iran has threatened to close in past conflicts.
Source: YAHOO