EconomistaAustriaco on Nostr: The physical crude oil market is out of control. The cost to ship 2 million barrels ...
The physical crude oil market is out of control.
The cost to ship 2 million barrels of crude oil from West Africa to China is now up to $27.22/barrel.
To put this into perspective, in July, the cost for the same shipment ~$6.50/barrel.
That's a +319% surge in shipping costs in just over 2 months.
The scramble for physical crude inventories is in full-swing.
Published at
2026-10-06 16:39:26 UTCEvent JSON
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"content": "The physical crude oil market is out of control.\n\nThe cost to ship 2 million barrels of crude oil from West Africa to China is now up to $27.22/barrel.\n\nTo put this into perspective, in July, the cost for the same shipment ~$6.50/barrel.\n\nThat's a +319% surge in shipping costs in just over 2 months.\n\nThe scramble for physical crude inventories is in full-swing.\nhttps://blossom.primal.net/d1c7e1d1eb35a7b886db72bd10fcb63f381c71190286a43484b4f18b856f99e1.jpg",
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