Oil tops $69 as tanker rates surge amid gulf tensions
Oil prices are seesawing above $69 a barrel after US strikes on Iran, while shipping costs rise sharply. Tanker owners now demand higher fees to access Gulf ports, pushing supertanker rates to $76,000 a day—the highest since March 2023. Though oil flows remain steady, naval alerts and rising premiums signal heightened risk in the Strait of Hormuz.