Shipping intelligence firm Kpler reported that on Monday, freight futures prices for Very Large Crude Carriers (VLCCs) surged by as much as 85% due to heightened uncertainty in the Strait of Hormuz before retreating later in the trading session. Spot freight rates on routes from key Middle Eastern oil-producing regions to China have risen from $6.55 per barrel to $12 per barrel, reflecting restricted vessel passage and increased risk premiums. By deadweight tonnage, approximately 6% of the global tanker fleet is stranded in the Gulf region, with VLCCs compliant with current environmental regulations accounting for 9.6%. Limited charter contracts are driving up freight rates amid restrictions on crude oil loading. The market anticipates that disrupted exports from the Middle East will boost tanker demand in the Atlantic basin, the US Gulf Coast, and India. (Jinshi)