Brief by Shorts91 Newsdesk / 07:10am on 14 Sep 2026,Monday International
Daily tanker charter rates for shipments to India have surged 150% in about two weeks to around $250,000, as worsening tensions around the Red Sea and Strait of Hormuz disrupt oil shipping. Rates were around $100,000 earlier, according to people familiar with the developments. Bunker fuel prices have also climbed 50% to $900 a tonne, while insurance costs have risen 20%. The disruption is a major concern for India, which imports around 30% of its oil and gas from West Asia. India’s crude import bill reached $63.37 billion between April and July, up 56% year-on-year. (PC: HT)
