The article says sea freight costs rose sharply in October due to the situation in the Strait of Hormuz and Bab el-Mandeb, making it very expensive to ship US oil to Asia. Chartering a 2-million-barrel supertanker from the US Gulf to China costs USD 76-77 million per voyage, compared with a standard USD 7-10 million before the Middle East conflict, adding about USD 38-39 per barrel. Freight now accounts for nearly half the price of US WTI crude, while UAE's Murban is about USD 2 per barrel cheaper than WTI even after shipping to East Asia. Using smaller tankers has also proven ineffective: Trafigura chartered a 600,000-barrel tanker for USD 24 million (about USD 40 per barrel), showing the problem lies in a global shortage of shipping capacity and route risks. Russia has an opportunity to supply ESPO crude to China in large volumes from the port of Kozmino at a smaller discount, though deliveries to India are harder and shipments via Novorossiysk have fallen by about half.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Cơ hội cho Nga khi dầu Mỹ đang bị chính châu Á ép rút khỏi thị trường
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