business
The Iran war is minting new one-day millionaires: oil tankers sailing across the Strait of Hormuz
For the first time, hiring an oil tanker costs more than $1 million per day as rocketing insurance premiums and a consolidating market drive up shipping costs.
Outside of the AI boom, there’s a new stock of near-instant daily millionaires as a result of the Iran war: oil tankers willing to odyssey across the Strait of Hormuz.
The cost for a vessel to haul oil from the Persian Gulf to China, which requires c... [3623 chars]
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