The price of oil tankers flying from the Middle East to China

The increase in the cost of transporting crude oil from the Middle East to China, which appeared after a wave of US sanctions, has decreased as traders returned to the poor demand of the largest imported country. The TD3C (TD3C) index on the Baltic Stock Exchange, which reflects the prices of very large RU oil tankers on this track, has recently dropped by about a third of its peak. This has led to the decline in the index to the lowest level since the outgoing Biden administration announced its mandate to impose a strict round of restrictions against Russia on January 10. The global oil market has also seen an unrest over the past few weeks, either due to sanctions or Donald Trump’s inauguration for his second term this week. Read more: US sanctions against Russian oil jump at the price of shipping aimed at the Biden Administration Procedures, especially the transiters transporting Russian supplies, who asked Moscow to search for alternative ships, and the customers, including some refineries in China, were forced to investigate alternatives to other regions such as producers. The price of oil delivery has fallen with this, the prices did not take long, as the low demand in China, which plays a major role in the global market during the past seasons, has brought out according to the traders. The high prices in actual markets, as well as the expected slowdown in China during the new lunar year, also stimulated the decline in oil shipping prices, according to traders who refused to reveal their identity. The Baltic Stock Exchange measures the prices using the so -called ‘World Peel’ index, a measure that takes expenses such as fees associated with ports and transit costs in the waterways and the time the carrier takes into the port, or during the travel and the cost of fuel. Read more: Anxiety over the sanctions changes the attention of Asian ranks of the Middle East oil. The gains of the shipping oil dropped on the same road, as it peaked at $ 56,630 a day during January 17 and then dropped to $ 36501 on Wednesday, according to the data followed by ‘Bloomberg’.