The price surge is driven by an increase in risk within the Black Sea and a broader global tanker rally. Because most Russian oil originates in western ports and must travel long distances to reach buyers in India and China, these escalating freight fees reduce the net revenue Russia receives from its oil exports.
Tuesday, October 20, 2026
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Urals Freight to India Hits Record $30M per Suezmax Voyage
Commodities7 days ago
Russian crude shipments from the Black Sea to Indian ports saw freight costs climb above $27 million per vessel in early October, up from $19 million in September. These record rates for Suezmax voyages are equivalent to approximately $30 per barrel or more, according to calculations by traders.
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