$460,000 Tanker Rates Expose Persian Gulf Chaos

Global oil stocks are down roughly one billion barrels and tanker rates for crude oil loading in the Persian Gulf have hit $460,000 a day. Tom Beney, SVP of Ocean Freight, Commercial, Shipping and Freight at StoneX, explains why the oil restocking challenge will keep prices elevated for months.  View the related video for the full interview between Tom Beney and Johanna Botta.