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Global supertanker shipping rates have risen over 1,600 percent in 2026 due to the Iran war. South Korea's Sinokor Group is influencing the TD3C benchmark by sharing high-priced contract details with brokers, prompting traders to look at alternative indices.
Part of a series: US weighs Iran strikes as oil prices climb and talks begin
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US Energy Secretary Chris Wright acknowledged that the ongoing military engagement with Iran has incurred significant expenses.
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The presidents of Iran and Russia held talks in Moscow. The Iranian leader stated that the region can resolve issues without United States involvement.
Iran
Iran's security chief, Rezaee, met with Yemen's ambassador in a diplomatic engagement.
HotIran
The Iranian Navy stated that a tanker violating regulations struck sea mines in the waters east of the Strait of Hormuz.
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Qatar stated that Iran must demonstrate good faith by ending threats to neighboring countries. The country also said Iran needs to reopen the Strait of Hormuz to ensure regional prosperity.
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Crude prices declined as diplomatic efforts to end the conflict between the U.S., Israel, and Iran resumed.
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