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If tankers are still moving through the Gulf, why might an Iran–U.S. crisis make each voyage more expensive? I’m trying to understand how war-risk insurance is priced when the threat is elevated but shipping has not actually stopped.
Do higher premiums usually get passed along to oil buyers, or do shipowners and insurers absorb much of the cost? I’m interested in the difference between a disruption to physical supply and a disruption that mainly makes transport riskier.
