Ceasefire Caps Oil Rally as China Demand Weakens

Supertankers Are Back in Fashion as Hormuz Risk Rewrites Oil Trade - The US-Iran crisis has engendered a shipbuilding boom, with the global orderbook for supertankers soaring to an all-time high as shippers race to lock in Very Large Crude Carriers (or VLCCs) for 2029-2030 delivery. - There are currently 262 VLCCs on order at shipyards around the world, surpassing the previous record posted in September 2008 (254), with orders jumping by a whopping 99 since the beginning of 2026. - Some 10% of the world’s non-sanctioned…