Global Shipping Stocks Hit Records Amid Middle East Disruptions

Oil and product tanker stocks such as Torm, Hafnia, and Teekay Tankers hit record highs due to surging tanker freight rates.

Middle East tensions and Strait of Hormuz transit disruptions forced vessels to take longer routes, tightening available ship supply.

Goldman Sachs raised its December Brent crude price forecast to $90 a barrel, citing a risk premium of over $20.