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The Economic Times

Economy / The Economic Times

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Record oil tanker rates put pressure on Asian refiners, IEA says

Asian oil refiners are facing increased shipping costs that are significantly affecting their profit margins. The cost of transporting oil via supertankers from the Middle East has surged sharply, leading to higher delivery prices. As a result, many refiners have seen their processing margins turn negative in recent months. Although refiners can buy US crude, shipping rates have also risen considerably for these imports.

14 Oct 2026 7:52 pm