(March 5) : It’s never been more expensive to ship crude from the US to Asia, though some deals are starting to fall through already with rates sky-high. The global energy industry has been rocked by the widening Middle East fighting, with the impacts playing out in spiking oil prices, snarled shipping and fears of higher inflation. The activity has helped lift prices for US grades such as Mars Blend, whose premium to WTI crude hit the biggest since 2020, according to General Index data. Thai refiner PTT had provisionally booked a ship at around US$29 million, according to shipbrokers familiar with the costs. Transocean Ltd was charging an average of US$470,000 a day for ultra-deepwater rigs during the final three months of 2025.

Source: The Edge Markets March 04, 2026 22:56 UTC