The Transit Lag

While tankers are moving, the journey from the Persian Gulf to Rotterdam takes significant time. In the interim, North Sea and African grades are still commanding a premium as refiners secure their immediate June requirements.

Maritime Security Verification

Insurers are monitoring the civilian corridor closely. While surcharges have fallen, a full return to pre-war freight rates is contingent on multiple incident-free weeks, keeping Brent at a modest structural premium for now.