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المشهد العربي
Oil shipping costs may disrupt crude deals
Global oil shipping costs have surged significantly, making some long-term oil trading deals unprofitable—especially amid a sharp shortage of large, available tankers for hire. This scarcity has driven up the cost of transporting a barrel of oil from the Port of Houston to Asia by $26, roughly a quarter of the West Texas Intermediate (WTI) futures contract price, threatening to disrupt supply flows in a market already suffering from an unprecedented fuel shortage.
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