Soaring Supertanker Rates Reach $82 Million, Shutting U.S.-Asia Crude Arbitrage

Asian refiners are turning away from U.S. crude oil as record supertanker charter rates close trans-Pacific arbitrage windows. Persistent disruptions and ship-to-ship transfers outside the largely closed Strait of Hormuz have tied up global fleet capacity. Middle East to East Asia rates reached a record $1.4 million daily, while U.S. Gulf fixtures to Asia jumped to between $76 million and $82 million—or roughly $38 to $40 per barrel, representing nearly half of WTI futures value. Facing freight costs up over 300% since mid-August, buyers are pivoting to regional alternatives, driving UAE Murban premiums above $11 per barrel.