According to data from the Baltic Exchange, as of this Tuesday, the cost to charter a Very Large Crude Carrier (VLCC) to transport 2 million barrels of crude oil from the US Gulf Coast to China has surged to approximately $44.8 million, marking an all-time high. This represents a significant jump from $39 million the previous day. In comparison, before the outbreak of the Iran War, this cost was only about $17.8 million. This week, Saudi Arabia's announcement to close its east-west oil pipeline further exacerbated market concerns about supply disruptions, boosting the strategic value of US crude oil. Despite the high freight costs, the price advantage of US WTI crude oil still keeps its landed comprehensive cost below that of competing sources, and Asian buyers' purchasing interest has not been significantly dampened. Driven by strong demand, WTI crude oil rose over 4% in a single day, reaching a new high since April.