Middle East Oil Crisis Sends Supertanker Prices to Record Highs

Demand for tankers from Middle Eastern oil producers has pushed prices to an all-time high, the Financial Times reported today, saying both new and second-hand very large crude carriers reached prices of over $130 million in the second quarter of the year.

Citing data from shipbroking company Braemar, the FT also said the prices for chartering a supertanker for a year have also hit the highest on record.