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Oil transport costs from Gulf to East Asia rise
Oil transportation costs from the Gulf to East Asia have surged significantly, now exceeding multiple times their pre-conflict levels. Specifically, they have increased by approximately 540% based on the charter rates for supertankers. Over 40% of the global tanker fleet is currently in or within two days' travel of the region. This spike reflects a substantial rise in expenses, impacting oil supplies and global energy prices.
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