The cost of shipping oil in the largest tankers reached record levels after the biggest wave of attacks on shipping since the U.S.-Iran war began in late February. Rates for very large crude carriers, or VLCCs (the largest oceangoing oil tankers), loading in the Gulf of Oman for China climbed to about 450 on the Worldscale index, equivalent to roughly $11.50 per barrel, according to Baltic Exchange data. The increase reflects heightened risks around the Strait of Hormuz and Bab el-Mandeb, reducing the number of tankers available in the region. Analysts say sustained freight costs could add to inflation and raise expenses for businesses and consumers, while VLCC rates on the West Africa-to-Asia route also reached records.