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The Front Tyne oil tanker was sailing through the Gulf between Iran and the United Arab Emirates on Sunday when just past 9:40 a.m. shiptracking data appeared to show the massive vessel in Russia, in fields better known for barley and sugar beets.
War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between Israel and Iran entered its fifth day, industry sources said on Tuesday.
Oil-shipping rates for Middle Eastern routes have spiked after some tanker owners and managers paused offering vessels as they assess risks from Israel’s conflict with Iran, fueling concerns over flows from the region.
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