Oil Freight Rates Jump in Mideast as Iran Conflict Fans Risk (2)

Oil-shipping rates for Middle Eastern routes have spiked after some tanker owners and managers paused offering vessels as they assess risks from Israel’s conflict with Iran, fueling concerns over flows from the region.

Key rates for supertankers voyaging from the Middle East to East Asia rose almost 60% in less than a week, according to shipbrokers and charterers, as exporters who had been trying to book ships were met with few offers. They asked not to be identified as they’re not authorized to speak publicly.

Meanwhile, some owners with tankers that had been provisionally chartered as of Friday, pending confirmation ...