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via economictimes.indiatimes.comMarkets

Hormuz war risk sevenfolds crude shipping costs, squeezing refiners

FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM

Global crude oil freight rates are rising due to war-related risks in the Strait of Hormuz and increased ship-to-ship transfers. Goldman Sachs reports that shipping costs are significantly higher than they were a year ago. Asian refiners are particularly pressured, facing…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishHigher freight costs can squeeze refinery margins and push up fuel prices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Global crude freight rates are rising on war risks in the Strait of Hormuz.
  2. 02Goldman Sachs reports shipping costs well above levels of a year ago.
  3. 03Asian refiners face potential profit margin reductions.

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