Crude tanker rates reached unprecedented levels as disruption around the Strait of Hormuz, attacks, cyber risks, insurance costs and reduced vessel availability tightened global oil logistics, even as Saudi Arabia began using ship-to-ship transfers off Oman’s Port of Sohar to supply Asian refiners. Baltic Exchange data showed that chartering a VLCC carrying roughly 2 million barrels from the US Gulf Coast to China reached about $44.8 million, or $22.40 per barrel, while Persian Gulf tanker rates climbed as high as $1.035 million per day and Gulf of Oman-to-China rates reached $644,000 per day. The alternative Saudi export route reduced immediate supply concerns, but vessel traffic through Hormuz remained well below its recent average. On Thursday the 17th, Brent fell $1.24, or 1.2%, to $104.59 a barrel and WTI dropped $1.14, or 1.1%, to $101.29 after both declined about $3 on Wednesday the 16th. Asian refiners were also turning to US crude, with six VLCCs scheduled to load US Gulf Coast crude for Asia in October because WTI-based deliveries remained cheaper on arrival than UAE Murban. Saudi Arabia’s East-West Pipeline was shut after multiple drone attacks, Yanbu loading operations were suspended and some European cargoes were delayed, while declining inventories, Black Sea security risks and suspected cyberattacks continued to pressure global oil logistics.