Oil tanker freight rates surge as Middle East attacks squeeze vessel availability

Oil tanker freight rates have surged as rising attacks and longer shipping routes squeeze vessel availability in the Middle East, with the cost of chartering a very large crude carrier from the Persian Gulf to China climbing to nearly $1 million a day from about $230,000 before the war, according to ANZ citing Clarkson data. Freight costs on other routes have also spiked, with one U.S. tanker cargo booked at $41 a barrel. Second-hand tanker prices hit a record $240 million. Separately, Kpler data shows confirmed oil flows through the Strait of Hormuz averaged 10.5 million barrels a day in the seven days to Oct. 10, about 38% below the prewar baseline of 17.1 million, with significant daily volatility. Other items in the roundup: Experian faces more risks than opportunities from AI agents, Bernstein says; Nordex reported growing Q3 sales with orders diversifying internationally; Malaysia'