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Major adjustment of global oil trade routes Crude oil sea freight prices soared

 Last Update: 2023-01-07
 Source: Internet
 Author: User

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After the outbreak of the Russian-Ukrainian conflict, the global oil trade route has undergone major changes
.
Compared with previous years, this year's northern hemisphere winter has not yet arrived, oil tanker shipping prices have risen in the summer, at the end of August, the Baltic crude oil freight index (BDTI) once rushed to 1550, although it has recently fallen, but still hovering
around 1450.

After the global pandemic in 2020, BDTI hit a record low at the end of June 2020, when the European and American economies fell into recession and global oil demand fell
sharply.

However, as countries took relief measures and the economy picked up, global oil demand began to recover, and the price of oil tanker shipping also rose
steadily.
However, after the outbreak of the Russian-Ukrainian conflict in March this year, tanker prices soared rapidly, and BDTI hit a maximum of 1744
in April.
After that, although there was a correction, from this summer, the price of oil tanker shipping began to rise again
.

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