Oil tanker rates hit record ₹1.2 crore a day amid Russia sanctions
The cost of hiring huge oil tankers on a benchmark route jumped to record highs of nearly $137,000 per day (around ₹1.2 crore) at the end of last week. This marked a 576% increase this year, according to Bloomberg. The surge comes amid buyers increasing supply from the Middle East and US producers following US sanctions on Russian crude.