The oil market is facing a transportation crisis that suggests energy costs aren't falling soon

The oil market is experiencing a shipping crisis that could keep crude prices high even if oil prices cool. Tanker rates have skyrocketed, adding pressure to energy costs. Brent crude, the international benchmark, has seesawed recently, trading around $105 a barrel this week as traders weighed supply disruptions and the outlook for a resolution to the war. Energy experts are now more concerned about a shipping crisis than an oil supply shortage, and shipping pressures directly push up the price of oil, adding to price pressures for consumers.

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