Trafigura Buys 7 SFL Oil Tankers in Pivot From Chartering

Heightened security risks in the Red Sea and disruptions at the Strait of Hormuz have forced vessels onto longer voyage routes, shrinking available supply and driving up charter rates. While Iraq is seeking more tankers to control its own oil flows, Vitol's chief executive warned that a continuing vessel shortage could push oil prices toward $200. However, the purchase occurs at peak market values, leaving buyers exposed if routes normalize and shipping prices decline.