Oil supertankers in Gulf are renting for $500,000 per day: Report

Oil supertankers are commanding daily rates of $500,000–$510,000 to transport crude from the Persian Gulf to Asia, reaching their highest levels since June amid ongoing regional conflict. Shipowners are capitalizing on surging demand as the Strait of Hormuz remains contested between the US-Israel alliance and Iran following the collapse of a ceasefire, while Houthi attacks in the Red Sea force vessels onto longer, less efficient routes via Africa. The UAE has pumped record volumes of 4.1 million barrels per day and routed tankers through the strait with transponders disabled, betting on profits despite heightened military risk.