Hard Numbers

Hard number: Iran war elevates Panama Canal costs

Natalie Johnson

Costs for ships to pass through the Panama Canal have hit record highs as the Iran war imperils global oil shipping. According to data from Argus Media, daily auctions to cross the waterway have drawn five times as many bids than prior to the conflict. There’s also been a surge of US oil and fuel shipments through the canal, primarily coming from the Gulf Coast.

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