{
  "id": 4004434,
  "title": "The Iran War Has Turned VLCCs Into $650,000-a-Day Assets",
  "url": "https://urgent.news/2026/08/28/the-iran-war-has-turned-vlccs-into-650-000-a-day-assets",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-28T17:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/The-Iran-War-Has-Turned-VLCCs-Into-650000-a-Day-Assets.html"
  },
  "original_language": "en",
  "account": "The Iran conflict has transformed Very Large Crude Carriers (VLCCs) into highly profitable assets, generating revenues of $650,000 per day on average. Shipping costs on the Saudi Arabia-to-China route reached a record $647,000 per day, more than ten times the pre-pandemic level. Despite the ongoing war, Gulf producers are increasing crude shipments through the Strait of Hormuz, despite the perceived risks. This has created a premium for tankers willing to navigate the dangerous strait, with additional freight charges for transferring cargo to other vessels outside the Gulf. TotalEnergies CEO Patrick Pouyanne estimates the cost of moving a cargo through Hormuz at about $20 million. The situation is further exacerbated by Houthi attacks in the Red Sea, forcing Saudi Arabia to reroute some barrels through the Mediterranean and around Africa, adding 30 days to transit times to Asia. Traders estimate Hormuz outflows at 6 million to 8 million barrels per day, while Goldman Sachs estimates flows at roughly two-thirds of pre-war levels.",
  "summary": "More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago—and nearly 27% above the $510,000 reached just ten days earlier. The spike comes as Persian Gulf producers increase…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}