US crude shipping costs to Asia hit record high amid Middle East disruptions

US crude: US crude refers to oil produced in the United States, including benchmark grades such as West Texas Intermediate, that are exported globally and compete with Middle Eastern and other supplies in Asian refineries. In this news, US crude is the cargo being shipped from the US Gulf Coast to Asia, where surging demand from Asian buyers and disruptions to Middle Eastern supplies have driven the cost of hiring supertankers on the US Gulf-to-Asia route to record levels. Tanker_market: Very large crude carrier (VLCC) rates on key Middle East-to-China and US Gulf-to-Asia routes have surged to unprecedented levels as shipowners demand high premiums to transit high-risk areas, making freight costs rise much faster than underlying oil prices. Asian_demand_shift: Asian refiners, facing higher prices and disruptions for Middle Eastern grades, have increasingly turned to US crude supplies, adding stress to an already tight market and amplifying freight cost pressures on US-to-Asia routes. Middle_East_conflict: Recent attacks on tankers and escalating war between the US and Iran in and around the Strait of Hormuz have severely disrupted Middle East shipping routes, causing global oil tanker rates to hit record highs.