Al Jazeera
While shipping rates for supertankers in the Gulf jumped over the last two weeks as fighting between Iran and Israel escalated, they have since the ceasefire came into effect.
Rates had crossed $60,000 a day but were back down to about $50,000 a day.
The conflict has raised concerns that Iran could close the Strait of Hormuz, a narrow passageway between Iran and Oman through which about 20 percent of global oil and gas is transported.
Rates had crossed $60,000 a day but were back down to about $50,000 a day.
The conflict has raised concerns that Iran could close the Strait of Hormuz, a narrow passageway between Iran and Oman through which about 20 percent of global oil and gas is transported.
