The launch follows prolonged disruptions in the Persian Gulf and the Red Sea caused by the Iran war, which have forced vessel owners to reroute shipments and buyers to find alternative supplies. These geopolitical hostilities have unsettled the oil shipping industry's primary benchmark and prompted a reassessment of pricing risks for global oil transport.
Tuesday, October 20, 2026
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ICE Launches 2 Tanker Derivative Contracts Bypassing Strait of Hormuz
Commodities16 days ago
Tanker shipping routes from West Africa and the Gulf of Oman will now be covered by new hedging tools introduced by Intercontinental Exchange on Monday. These two forward-freight agreements allow market participants to manage price volatility for oil voyages that do not pass through the Strait of Hormuz.
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