Supertanker rates on the Baltic Exchange's benchmark Middle East-to-China shipping route have surged to a staggering $800,000 a day. This comes as US forces recently destroyed five Iranian-linked tankers and Tehran threatened further escalation, signaling that crude oil and refined products are becoming increasingly costly to transport out of the Gulf region. The freight surge adds another layer of inflation pressure for global central banks, potentially filtering through to gasoline, diesel, freight, and ultimately consumer goods. Morgan Stanley analysts suggest two-year leasing rates could surge another 20% to 30%.