{"id":537811,"date":"2022-11-23T11:05:55","date_gmt":"2022-11-23T05:35:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=537811"},"modified":"2022-11-23T11:05:55","modified_gmt":"2022-11-23T05:35:55","slug":"oil-freight-at-100000-piles-pressure-on-crude-markets","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-freight-at-100000-piles-pressure-on-crude-markets\/","title":{"rendered":"Oil freight at $100,000 piles pressure on crude markets"},"content":{"rendered":"<p>Soaring shipping costs are piling pressure onto physical oil markets that are already being hit by uncertainty surrounding a cap on Russian crude prices and weak Chinese buying.<\/p>\n<p>Earnings on the industry\u2019s benchmark trade route breached $100,000 a day on Monday, the highest since early 2020 when Covid-19 caused a surge in tankers storing cargoes. With sanctions on Russia now forcing ships to take longer routes &#8212; drying up the pool of available vessels &#8212; oil companies and traders are having to pay ever-higher prices to transport cargoes. That\u2019s adding to the cost of crude.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Soaring shipping costs are piling pressure onto physical oil markets that are already being hit by uncertainty surrounding a cap on Russian crude prices and weak Chinese buying. Earnings on the industry\u2019s benchmark trade route breached $100,000 a day on Monday, the highest since early 2020 when Covid-19 caused a surge in tankers storing cargoes. With sanctions on Russia now forcing ships to take longer routes &#8212; drying up the pool of available vessels &#8212; oil companies and traders are having to pay ever-higher prices to transport cargoes. That\u2019s adding to the cost of crude.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-537811","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/537811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=537811"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/537811\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=537811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=537811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=537811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}