JPMorgan: Rising oil prices become a major issue due to transportation bottlenecks
2026-10-12 02:54:41
CoinMeta data: JPMorgan indicates in the latest report that despite sufficient global oil supply, oil prices are still rising due to insufficient transportation capacity. The report shows that oil shipments through the Strait of Hormuz reached 12 million barrels per day in September, an increase from 7.5 million barrels per day in July and August. However, 766 out of 923 super tankers in the world are currently in use, and another 124 Iranian vessels are unable to operate due to U.S. sanctions, leading to soaring transportation costs. JPMorgan Analysts say that the current cost of transporting oil has reached $1.16 million per day, and it is not expected that this trend will change soon.
Source:BeInCrypto
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