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Record Freight Costs Squeeze Russia's Black Sea Crude Exports

Heightened shipping threats from Ukrainian attacks and a shortage of tankers have pushed the freight costs for Russia’s crude oil exports from the Black Sea to record highs.

  • Record freight costs hit historic peaks for Russia's Black Sea crude exports.
  • Ukrainian attacks and tanker scarcity driving up tanker rates for Aframax ships.
  • Shipping costs to India and China now $23.20 and $25.70 per barrel, respectively.

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