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flag U.S. sanctions on Russian oil firms sent supertanker rates to multi-year highs in October 2025, driven by disrupted trade and tight supply.

flag Supertanker freight rates surged to multi-year highs in mid-October 2025 as U.S. sanctions on Russian oil giants Rosneft and Lukoil disrupted global crude trade, prompting refiners in India and China to seek alternative supplies. flag The Middle East to China supertanker route saw rates jump 16%, with VLCCs earning over $80,000 per day. flag A record 1.31 million barrels per day of crude were in transit, driven by sanctions on Russian, Iranian, and Venezuelan oil, prolonged Red Sea shipping delays, and strong output from the U.S., Brazil, and Canada. flag A shrinking tanker fleet and low newbuild orders have worsened supply constraints, boosting earnings for shipping companies while increasing costs for refiners and consumers.

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