Oil tanker prices surge to highest level since 2008 after Iran war turmoil

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Oil tanker prices surge to highest level since 2008 after Iran war turmoil
Photo: Kyodo News/AP/TT

The price of leasing an oil tanker for a year has also risen to historic record levels, the Financial Times reports, citing shipbroker Braemar.

The price increase comes as countries like Saudi Arabia, Kuwait and the United Arab Emirates buy and lease ships to find new ways to deliver their oil in the wake of attacks on ships in the Strait of Hormuz.

Oil and gas prices have also been pushed up. North Sea oil has risen from around $80 to $92 per barrel in two weeks, the highest price since the end of July.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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