GulfGulf direct: this report names Kuwait or a GCC economy, business, or policy.
Traders want U.S. permission to use sanctioned tankers, which could ease high oil shipping costs.
Oil Traders Want U.S. to Release Sanctioned Tankers as Freight Costs Soar
In simple terms
Some of the world's largest oil traders are asking Washington for permission to put sanctioned tankers back to work, as a global vessel shortage pushes oil transportation costs to high levels. Trafigura, Vitol, Mercuria and Abu Dhabi National Oil Co. are negotiating with U.S.
Why it matters for the Gulf
- Oil traders seek U.S. approval to use sanctioned tankers.
- A global vessel shortage has pushed oil transport costs unusually high.
- Gulf oil exporters' shipping costs could fall if tankers return.
Earlier coverage
Earlier coverage on GreyNews
- Limpet Mines Return to the Gulf as Iran Strikes Four Tankers Near the Strait of HormuzNov 3, 2026 · Hellenic Shipping News
- Kuwait raises oil production to highest level since Iran war began, say sourcesNov 3, 2026 · Times Kuwait
- Oil Prices Slide 3% as Hopes for Iran Peace Deal GrowNov 2, 2026 · OilPrice
- Oil spill off UAE widens, satellite images show, prompting more beach closuresOct 26, 2026 · The Straits Times
- Europe's Natural Gas Prices Soar to Four-Year High as Winter LoomsOct 26, 2026 · OilPrice
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