According to a Goldman Sachs report, global crude oil transportation costs have risen from around $3 per barrel to over $20 per barrel, with Middle Eastern shipping routes exceeding $35 per barrel. The risk premium of the Strait of Hormuz war has increased by about $7, ship to ship transshipment has increased by about $4, fuel costs have increased by about $4, dispatch efficiency has decreased by about $3, and Iranian oil tankers have reduced their contribution by about $2. The price difference between Brent crude oil and WTI crude oil is about $14 per barrel, higher than the usual $5. Goldman Sachs expects Brent crude oil prices to fall to around $90 per barrel by the end of the year and reach an average of $80 per barrel by 2027. (Source: Goldman Sachs)
