5 Hrs
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المشهد العربي
Oil tanker shipping costs fall amid lower demand
The decline in oil tanker shipping rates, especially in the Gulf of Oman, is due to decreased demand following recent incidents targeting ships in the Middle East region. The shipping cost has dropped to 776 points on the "Worldscale" index, down from 841 points last week, marking the highest level since the index was launched. This decrease is attributed to a reduction in oil exports and previously high shipping costs. The decline reflects the market's move toward stability after recent military tensions and their impact on global oil shipping activity.
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