Crude shipping West Africa–China jumps 258% since July to $23.59 per barrel

Shipping costs for physical crude oil have surged at a near-unprecedented pace, indicating severe stress in the global energy supply chain. The escalation is centered on long-haul routes and is materially increasing delivered crude prices.

Key figures

- Route: West Africa to China
- Cargo size: 2 million barrels
- Current shipping cost: $23.59 per barrel
- July shipping cost: approximately $6.50 per barrel
- Change over two months: +258%

Source: The Kobeissi Letter.