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Global Business News

The Economic Times

Global Business / The Economic Times

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Oil tanker rates hit record highs following Iran, US shipping attacks

Oil shipping rates from the Gulf of Oman to China have reached record highs this week. This surge follows recent attacks on shipping and military escalations in the region. The increased risk in the Middle East Gulf is pushing freight rates to new levels. Higher shipping costs could contribute to inflation and impact businesses and consumers. This conflict's effects are now spilling over to other global shipping routes.

11 Sep 2026 9:19 pm