US-China Crude Tanker Rates Hit Record $79.6 Million, Crushing Export Demand

Name: US-China Crude Tanker Rates Hit Record $79.6 Million, Crushing Export Demand
Uploaded: 2026-10-23T04:01:44.536463+00:00
Description: Tanker rates on the U.S. Gulf Coast-to-China crude route hit a record near $79.6 million in early October 2026 before easing to about $60 million on Oct. 22, according to Baltic Exchange data. Asian refiners' November orders for U.S. crude are down roughly 50% month over month, putting exports on pace for a seven-year low.

Tanker rates on the U.S. Gulf Coast-to-China crude route hit a record near $79.6 million in early October 2026 before easing to about $60 million on Oct. 22, according to Baltic Exchange data. Asian refiners' November orders for U.S. crude are down roughly 50% month over month, putting exports on pace for a seven-year low.

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