Iran-Israel conflict: Freight rates for oil tankers through Hormuz rise dramatically

The geopolitical tensions in the Persian Gulf are having a direct impact on the global oil market: Since Israel's attack on Iran, charter prices for large oil tankers sailing through the strategically important Strait of Hormuz have more than doubled. Shipowners are reluctant to send their vessels through the bottleneck – the risk is simply too high, as research by the Financial Times shows.